BrightRoof Gets $56 Million From National Bank of Canada

(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.

To contact the reporter on this story:

Justin Doom in New York at

jdoom1@bloomberg.net

To contact the editors responsible for this story:

Reed Landberg at

landberg@bloomberg.net

Carlos Caminada, Tina Davis

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