Kingston Solar Project partners sell C$633 million of solar bonds

By Angela McDaniels

Tacoma, Wash., Oct. 14 – Connor, Clark & Lunn Infrastructure Ltd. and Samsung Renewable Energy Inc. announced the closing of a roughly C$633 million solar bond financing for their Kingston Solar Project.

The proceeds will be used to refinance the project's existing bank debt and swap facilities.

Connor, Clark & Lunn and Samsung said they have together closed more than C$1 billion of solar financings in the Canadian and U.S. bond markets over the last year.

Regime de rentes du Mouvement Desjardins, CAAT Pension Plan and iA Financial Group are co-investment partners in the project, and CarbonFree Technology Inc. is development partner.

Toronto-based Connor, Clark & Lunn Infrastructure invests in middle-market infrastructure. It is part of asset management firm Connor, Clark & Lunn Financial Group Ltd.

Samsung Renewable Energy builds renewable energy projects and is based in Mississauga, Ont.

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