$663m financing completed on Canadian solar project
Connor, Clark & Lunn Infrastructure and Samsung Renewable Energy have generated $633m for the bond financing of Ontario's 100 MW Kingston Solar Project, in Canada's biggest-ever renewable energy bond financings deal. Connor, Clark & Lunn Infrastructure president Matt O’Brien said the amount of funding reflected the "scale and quality of the project", which attracted investors from across the US and Canada. The money will be used to refinance existing debt, and swap facilities. The Kingston Solar Project was completed in 2015, and commenced operations in September the same year.

A huge sum of USD 633 million has been generated by Connor, Clark and Lunn Infrastructure and Samsung Renewable Energy for the bond financing of the utility-scale solar project in Ontario, Canada. It is a landmark occasion, representing one of the largest renewable energy bond financings ever completed in Canada.

The funds will be used to refinance the projects existing debt, and also to swap facilities. It has been accomplished by attracting investors from all over Canada and the U.S.

We are delighted to complete this significant financing, commented Connor, Clark and Lunn Infrastructure president Matt OBrien. Attracting support from a broad base of Canadian and U.S. investors, the financing was a reflection of the scale and quality of the project and the strength of its ownership group.

The 100 MW Kingston Solar Project was completed over a 14-month period in 2014 and 2015, becoming commercially operational in September 2015. Canadian Solar supplied its modules for the large-scale project, while SMA was responsible for supplying the inverters. Interestingly, SMAs Canadian subsidiary, SMA Canada, also took over operational management of the plant back in 2014.

Popular content The power that is being generated by the plant is being sold to the Independent Electricity System Operator (IESO) under a PPA. The completion of the Kingston Solar Project bond financing marks an important milestone for this project, said Steve Cho, President of Samsung Renewable Energy. The Kingston Solar Project is one of the largest solar projects in Canada, generating not only 100 MW of clean energy, but also significant economic benefits for Ontario and the community of Kingston. This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com. Share Sam Pothecary Sam joined pv magazine in 2016, primarily to manage the magazine's online presence. As well as writing and editing articles for the daily news section, he reports on the global solar industry and climate policies for the magazine. More articles from Sam Pothecary Related content Elsewhere on pv magazine...