KINGSTON SOLAR PROJECT TO CREATE HUNDREDS OF JOBS IN LOCAL COMMUNTY
TORONTO, July 21, 2014 /CNW/ - Samsung Renewable Energy, Inc. (Samsung)
and Connor, Clark & Lunn Infrastructure today announced the formation
of a partnership to provide equity funding for the 100 megawatt (MW)
Kingston Solar Project, which is among the largest solar projects in
North America. The partners also announced the closing of debt
financing for the project, the second large solar project financed
jointly by Samsung and Connor, Clark & Lunn Infrastructure in the last
year. Samsung and Connor, Clark & Lunn Infrastructure entered a
similar partnership in late 2013 to finance the 100 MW Grand Renewable
Solar Project, which is currently under construction.
Located in the City of Kingston and Loyalist Township, the Kingston
Solar Project will employ hundreds of workers across Ontario in various
capacities, including equipment manufacturing, onsite construction and
long-term project operations. In the Kingston area, an average of 400
workers will be onsite during construction, including many employees of
local subcontractors. Construction is expected to begin soon, with
completion anticipated by late 2015.
The project will use solar modules and inverter houses manufactured in
Guelph, ON and London, ON by Canadian Solar Solutions Inc. and
inverters made in Toronto by SMA Canada Inc. Canadian Solar Solutions
Inc. will also act as the engineering, procurement and construction
(EPC) contractor for the Project.
"Samsung is proud to be a part of the Kingston and Loyalist community,"
said Steve Cho, Vice President, Samsung C&T. "The Kingston Solar
Project will create hundreds of high-skilled jobs across Ontario and
locally that will benefit real people in this community."
"We would like to thank the City of Kingston and Loyalist Township for
their strong support and we look forward to making a positive
contribution to the local economy over the coming years", said Matt
O'Brien, President of Connor, Clark & Lunn Infrastructure. "We would
also like to express our gratitude to our co-investment partners -
Régime de rentes du Mouvement Desjardins, CAAT Pension Plan and
Industrial Alliance - while acknowledging the significant involvement
of our development partner, CarbonFree Technology Inc." Mr. O'Brien
added, "Connor, Clark & Lunn Infrastructure is very pleased to be
making its second large solar investment with Samsung. The investment
is an excellent addition to our growing portfolio of high-quality
About Samsung Renewable Energy, Inc.
Samsung Renewable Energy is creating clean, renewable energy for
generations to come. Together with our partners, Samsung is making a
$5-billion investment in Ontario to create the world's largest cluster
of wind and solar power. Our investments will create 900 direct
renewable energy manufacturing jobs and 9,000 high-skilled indirect
jobs in Ontario. Built on Samsung C&T's commercial and technical
expertise and the success of its renewable energy projects in several
countries - including the United States and Europe - Samsung is
creating real jobs, through real investment, benefitting real people.
For more information, please visit www.samsungrenewableenergy.ca.
About Connor, Clark & Lunn Infrastructure
Connor, Clark & Lunn Infrastructure invests in middle-market
infrastructure and infrastructure-like assets with highly attractive
risk-return characteristics, long lives and the potential to generate
stable cash flow. Connor, Clark & Lunn Infrastructure is part of
Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset
management firm whose affiliates collectively manage approximately $55
billion in assets. For more information, please visit www.cclinfrastructure.com.
SOURCE: Connor, Clark & Lunn Infrastructure
For further information:
Manager - Communications, Government and
Public Relations Samsung Renewable Energy, Inc.
Chief Marketing Officer
Connor, Clark & Lunn Financial Group Ltd.