Grand River Development closes C$613 million renewable bond financing

By Lisa Kerner

Charlotte, N.C., June 9 – Six Nations of the Grand River Development Corp., in conjunction with Connor, Clark & Lunn Infrastructure and Samsung Renewable Energy, Inc., closed an estimated C$613 million bond financing, one of the largest renewable bond financings completed in Canada.

Proceeds will be used to refinance the Grand Renewable Solar Project’s existing bank debt and swap facilities, according to a news release.

“The financing attracted significant support from a broad base of Canadian and U.S. investors, making it a testament to the quality of the GRS project and the strength of our equity partners, Samsung and Six Nations, and our construction partner, CarbonFree Technology Inc.,” said Connor, Clark & Lunn Infrastructure president Matt O’Brien.

Six Nations of the Grand River Development Corp. represents Six Nations’ interest in 13 mid-to-large scale energy projects in Southern Ontario. The company is based in Ohsweken, Ont.

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