Global investment firm KKR has acquired three solar photovoltaic projects from an affiliate of Starwood Energy Group, SSM Solar. Terms of the transaction were not disclosed.
Located in Sault Ste. Marie, Ontario, SSM Solar has a total capacity of 69 MW, representing one of the largest PV facilities in North America and the second largest in Canada, according to the companies.
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 OPA's Renewable Energy Standard Offer Program.
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.