Samsung partners with CC&L Infrastructure, closes US$195 million financing for 50MW Ontario project

Share on facebook
Share on twitter
Share on linkedin
Share on reddit
Share on email
In July Canadian solar commissioned a a 100MW PV plant in Ontario financed by CC&L. Credit: Canadian Solar

Samsung Renewable Energy, through its partnership with Connor, Clark and Lunn Infrastructure (CC&L Infrastructure), has closed on US$195 million of debt financing for a 50MW solar project in Windsor, Ontario.

The Windsor Solar project will use solar panels manufactured in Ontario by Canadian Solar and inverters also made locally by SMA America. The plant will also power around 8,500 homes in Ontario each year.

Samsung has signed a 20-year power purchase agreement with the utility Independent Electricity System Operator (IESO).

The project's imminent construction phase will create more than 100 jobs and the plant is scheduled for completion in late 2016 or early 2017. The project is also expected to create more than US$18 million in local investment.

Steve Cho Vice President, Samsung C&T, said: “Samsung is proud to be working with the Windsor community on the construction of this project. The Windsor Solar project, along with our other projects in the province, is creating thousands of high-skilled jobs that will benefit real people in this community and across Ontario.”

Matt O'Brien, president of CC&L Infrastructure, said: “We would also like to express our gratitude to our co-investment partner – Régime de rentes du Mouvement Desjardins – while acknowledging the significant involvement of our development partner, CarbonFree Technology.”

Samsung is making a US$5 billion investment in Ontario to create a cluster of wind and solar power.

This is CC&L Infrastructure’s third large-scale solar investment with Samsung.

In July Canadian Solar Solutions, a wholly-owned subsidiary of Canadian Solar, completed construction of the largest solar project in Canada, a 100MW PV plant in Ontario. Samsung Renewable Energy and the Six Nations of the Grand River partnered with Connor, Clark & Lunn to finance the project.

Read Next

July 27, 2021
Canadian Solar has closed a BRL500 million (US$100 million) financing facility to develop a Brazilian solar portfolio claimed to be the country’s largest, while also giving it the option to hold built solar assets for longer.
July 27, 2021
A round-up of the latest news from the US solar market, featuring Vision Solar’s commitment to hire “hundreds” of sales staff as part of a two-state expansion, Recurrent Energy’s sale of two major assets in Texas and news of 8minute Solar Energy strengthening its legal team.
June 30, 2021
Japan’s eighth solar auction, for projects with a generation capacity of more than 250kW, has closed with bidders securing a total of 208MW.
June 29, 2021
Solar Module Super League (SMSL) members JinkoSolar and Canadian Solar have both submitted applications to the Shanghai Stock Exchange, progressing their respective initial public offering (IPO) plans.
June 25, 2021
Canadian Solar has secured a €50 million (US$59.7 million) bilateral corporate facility with Banco Santander to support its project development efforts in Europe, the Middle East and Africa (EMEA).
June 24, 2021
Amazon has announced 14 new renewable projects in the US, Canada, Finland, and Spain, strengthening its position as the largest corporate buyer of renewables globally

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
August 19, 2021
At 9am (PT) | 6pm (CEST)
Solar Media Events
August 25, 2021
Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021