GRAND RENEWABLE SOLAR PROJECT TO CREATE HUNDREDS OF LOCAL JOBS IN THE
TORONTO, Oct. 15, 2013 /CNW/ - Samsung Renewable Energy, Inc. (Samsung)
today announced the formation of a partnership with Connor Clark & Lunn
Infrastructure and Six Nations of the Grand River to provide equity
funding for the 100 megawatt (MW) Grand Renewable Solar Project (GRS),
the largest of its kind in Canada and one of the largest in North
America. The partners concurrently announced the closing of a debt
financing for the project. Located in Haldimand County, Ontario, the
GRS project will incorporate solar panels manufactured in London,
Ontario by Canadian Solar and inverters made in Toronto, Ontario by SMA
that will produce enough clean energy to meet the needs of over 17,000
Hundreds of people from across Ontario will be employed in every aspect
of the GRS project - from manufacturing and assembly of the solar
panels and inverters, to site construction, installation, and project
operations. An average of 110 workers and a peak of 200 will be on site
during construction, including local subcontractors that will be
utilized for various aspects of the project. Construction is expected
to begin soon and is expected to be completed by the middle of 2015.
"Samsung is thankful to become part of this supportive community in
Haldimand and proud of this historic partnership with Six Nations,"
said Mr. K.J. Kim, Executive Vice President, Samsung C&T. "The Grand
Renewable Solar Project will create hundreds of high-skilled jobs that
will benefit real people in this community."
"As an Ontario-based firm, Connor Clark & Lunn Infrastructure is very
pleased to be making an investment in this ground-breaking project, one
of several renewable energy projects in which we have invested through
our growing infrastructure business" said Matt O'Brien, president of
Connor Clark & Lunn Infrastructure. Mr. O'Brien added: "It is an honor
to have Six Nations as a partner and we would like to thank the
community of Haldimand for their strong support. We would also like to
express our gratitude to our development partners, CarbonFree
Technology and S2e Technologies, for their significant contributions to
The Grand Renewable Solar project will assist Ontario in reducing its
dependence on coal production. Compared to coal-fired generation, each
year the GRS project will offset approximately 162,000 tonnes of CO2,
the equivalent of taking 29,610 cars off the roads. The solar power
generated at GRS will be sold to the Ontario Power Authority under a
power purchase agreement.
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 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 a part of
Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset
management firm whose affiliates collectively manage over $46 billion
in assets. For more information, please visit www.cclgroup.com.
SOURCE: Connor, Clark & Lunn Infrastructure
For further information:
Manager - Government and Public Relations
Samsung Renewable Energy, Inc.
Head of Marketing
Connor, Clark & Lunn Financial Group Ltd.