BRIGHTROOF SOLAR FIT APPLICATIONS EXCEED $50 MILLION

TORONTO, May 5 /CNW/ - BrightRoof Solar LP announced today that it has submitted more than 40 applications to the Ontario Power Authority for solar Feed-In Tariff (FIT) contracts. The projects will together create more than $50 million of equipment sales and installation work in Ontario, and will add more than 12 megawatts of clean electricity generating capacity to Ontario's power grid. The project sites are located across Ontario, on roof space to be leased from several institutional property owners.

BrightRoof was established by CarbonFree Technology - a leading solar power project developer - and Connor, Clark & Lunn Infrastructure - the infrastructure investment affiliate of Connor, Clark & Lunn Financial Group, the second largest independent asset management company in Canada. BrightRoof plans to invest $100 million of capital over the next two years to fund solar projects participating in Ontario's FIT program. The necessary financing is in place, and the current applications account for more than half of the total.

"We believe solar power represents a clean and reliable alternative to other forms of power generation available in Ontario," said David Oxtoby, CEO of CarbonFree Technology. "Many building owners and tenants agree, and they are eager to be a part of the solution."

Upon approval of the applications by the Ontario Power Authority, BrightRoof will enter into 20-year FIT contracts and develop, own and operate the solar energy systems, making lease payments to building owners for otherwise unused roof space.

In addition to working directly with building owners, BrightRoof is partnering with other solar developers and installers to acquire or co-invest in projects which have already received FIT contract offers. More information about BrightRoof and its programs for building owners and other developers is available at www.brightroof.ca.

"BrightRoof is a reliable counterparty and an ideal long-term tenant," said Matt O'Brien, President of Connor, Clark & Lunn Infrastructure. "BrightRoof's financial strength and stability, access to capital and significant solar experience make it an attractive partner for both building owners and project developers who are seeking financing for their solar projects."

About Connor, Clark & Lunn Infrastructure Ltd.

Connor, Clark & Lunn Infrastructure invests in a broad range of North American infrastructure companies and projects with long lives, highly attractive risk-return characteristics and the potential to generate stable cash flow. Connor, Clark & Lunn Infrastructure is part of Connor, Clark & Lunn Financial Group, a multi-boutique asset management firm responsible for the investment of over $39 billion in assets through its affiliated investment managers on behalf of individuals, advisors and institutional clients.

About CarbonFree Technology

CarbonFree Technology is a leading North American solar project developer, headquartered in Toronto. The company has commissioned more than $50 million worth of photovoltaic projects across North America. Institutional clients benefit from CarbonFree's lease agreements, Power Purchase Agreements (PPAs) and other financial structures, enabling them to earn income from unused space or buy clean energy at prices below grid electricity.

SOURCE Connor, Clark

For further information:

Matt O'Brien
President
CC&L Infrastructure
(416) 360-7682
more_info@cclgroup.com
mobrien@cclgroup.com    
        David Oxtoby
CEO
CarbonFree Technology Inc.
(416) 975-8800
info@carbonfreetechnology.com
www.carbonfreetechnology.com

 


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