(Bloomberg) — BrightRoof Solar, a Canadian solar-power
venture, is getting a C$68 million ($56 million) loan from the
National Bank of Canada for 18 megawatts of projects in Ontario.
The partnership between Toronto-based developer CarbonFree
Technology and investor Connor, Clark & Lunn Financial Group
will add C$17 million of equity, Gail Prins-Visser, a
spokeswoman for Connor, Clark & Lunn, said in an e-mail Friday.
The 18-year loan will help finance the construction of 58
rooftop and five ground-mounted solar arrays throughout Ontario
using equipment from companies including Canadian Solar Inc.
The solar farms will be owned by BrightRoof and a second
partnership that includes the Metis Nation of Ontario.
The projects range in size from 93 to 600 kilowatts, with
the majority located in the corridor between Toronto and London,
Ontario. The electricity generated from the projects will be
sold to Ontario’s Independent Electricity System Operator under
20-year contracts.
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Carlos Caminada, Tina Davis