January 8, 2021

Milbank Advises on CC&L Infrastructure’s Wind Portfolio Acquisition

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Milbank LLP represented CIBC, National Bank of Canada, Desjardins and MUFG as lenders in a $153 million financing provided to Connor, Clark & Lunn Infrastructure (“CC&L Infrastructure”) to support CC&L Infrastructure’s acquisition of an 80% stake in a portfolio of operating wind projects located in the United States.

The portfolio includes the 100 MW Meadow Lake V wind farm in Indiana, the 98 MW Quilt Block wind farm in Wisconsin, the 99 MW Redbed Plains wind farm in Oklahoma and the 66 MW Hog Creek wind farm in Ohio. With the additions of the aforementioned wind power projects, CC&L now has over 1 GW of operational renewable power assets in their clean energy portfolio.

Alec Borisoff, a partner in the firm’s Global Project, Energy and Infrastructure Finance Group, said: “We congratulate CC&L on this clean energy portfolio milestone. We are thrilled to play a role as they expand their presence in the US renewables space and develop a diverse portfolio of investments, both in terms of location and asset type. The renewables market in the US continues to be very dynamic and we are delighted to see well-placed investors such as CC&L take advantage of opportunities as they arise.”

Thomas Quirxtner, the lead project finance associate, noted, “We are very pleased to support the lenders and CC&L on this successful transaction, contributing to the expansion of their presence in the United States and North America as a whole.”

The Milbank deal team, based in both New York and Los Angeles, was led by Global Project, Energy and Infrastructure Finance partner Alec Borisoff and senior associate Thomas Quirxtner and included associates Henry Seeley and Matthew Powell.