KKR KKR today announced the acquisition of three solar photovoltaic (“PV”) energy
projects (“SSM Solar”) from an affiliate of Starwood Energy Group. Terms of
the transaction were not disclosed.
Located in Sault Ste Marie, Ontario, SSM Solar has a total capacity of 69MWdc
and 60MWac, representing one of the largest PV facilities in North America and
the second largest in Canada. SSM Solar is fully contracted to sell its energy
output to the Ontario Power Authority (“OPA”) under 20-year power purchase
agreements entered under the authority's Renewable Energy Standard Offer
Program (“RESOP”). SSM Solar powers approximately 7,000 households.
Overall operations and management of the solar projects will continue to be
handled by EDF Renewable Energy under three separate long term operations and
maintenance agreements.
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