Connor, Clark & Lunn Infrastructure has acquired a 49% interest in three operating Ontario wind projects totalling about 235 megawatts of capacity from NextEra Energy Resources for an undisclosed price.

The portfolio includes Adelaide Wind, Bornish Wind and Goshen Wind, located in Southern Ontario, with gross capacities of 60 MW, 73 MW and 102 MW, respectively. Together they generate enough energy to power more than 200,000 households, said CC&L Infrastructure. All electricity from the projects is sold under 20-year power purchase agreements with the Independent Electricity System Operator.

“This acquisition further advances our strategy of building a resilient, long-term portfolio of infrastructure assets underpinned by strong counterparties and stable cash flows,” said Matt O’Brien, president of CC&L Infrastructure. “These projects strengthen our presence in the Ontario renewable market and demonstrate our commitment to responsible investment in projects that deliver attractive risk-adjusted returns.”

With this investment, CCL & L Infrastructure’s renewable energy portfolio now represents nearly 2.4 gigawatts of gross capacity, including about 1.2 GW of wind power across 10 assets. NextEra will retain a 51% stake and continue to manage and operate the facilities.

The projects provide long-term economic contributions to their host communities through property taxes, direct funding, and benefit agreements with local Indigenous groups, said CC&L Infrastructure

CIBC Capital Markets advised CC&L Infrasture on the transaction, while Torys provided legal counsel to the company.

Pictured: Adelaide wind farm in Southern Ontario

Photo: ATCO