Samsung completes $195 million financing for 50MW PV project in Windsor, Ontario

South Korea’s Samsung Renewable Energy has completed $195 million in debt financing for its 50MW PV project in Windsor, Ontario, in partnership with Canadian asset management company Connor Clark & ​​Lunn Infrastructure.

The Windsor Solar Project uses solar panels manufactured in Ontario by Canadian Solar and inverters produced locally by SMA America. The plant will power 8,500 homes in Ontario.

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

The project will create more than 100 jobs during the construction phase, and the plant is expected to be completed in late 2016 or early 2017, with the potential to generate more than $18 million in local investment.

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

"We also want to express our gratitude to our investment partner, Régime de rentes du Mouvement Desjardins - and CarbonFree Technology for its participation," said Matt O'Brien, President of CC&L Infrastructure.

Samsung is investing $5 billion in a wind and solar power cluster in Ontario.

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

In July, Canadian Solar completed Canada's largest 100-megawatt photovoltaic power station project.