Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.
Issue link: https://digital.carswellmedia.com/i/1470131
24 www.lexpert.ca Big Deals COMPILED BY ZENA OLIJNYK AND KIEZZSA CRUZ > INFRASTRUCTURE DEALS renewable energ y power purchase agree- ment (PPA) for solar energ y in Alberta from a new, to-be-constructed 40 MW project northeast of Cardston, Alberta with Evolugen, a leader in the renewable energ y industry. Once it is completed, the Bank of Nova Scotia will become the sole proprietor, purchasing 100 percent of the emission-free renewable electricity generated by the facility. Construction of Spring Coulee Solar is scheduled to begin in summer 2022, with operations commencing in 2023. In its first year, Evolugen's Spring Coulee Solar facility is expected to generate close to 60,000 MWh of renewable electricity. e Bank of Nova Scotia is a leading Canadian multinational banking and financial services company in the Americas. Osler, Hoskin & Harcourt LLP ad- vised e Bank of Nova Scotia with a team consisting of Jacob Sadikman and Alexan- der McGillivray (construction). STRATHCONA RESOURCES COMPLETES $800 MILLION ACQUISITION OF TUCKER THERMAL OIL SANDS PROJECT CLOSING DATE: JANUARY 31, 2022 On January 31, 2022, Strathcona Resources Ltd., owned by Calgary-based investment firm Waterous Energ y Fund, completed the $800 million acquisition of the Tucker thermal oil sands project from Cenovus Energ y Inc. Waterous Energ y Fund was founded in 2017 and has invested $2 billion of private equity since then in the North American energ y industry. Strathcona is an amalgamation of two Waterous Energy Fund portfolio companies, Strath Resources and Cona Resources. e two companies combined in August 2020. Stikeman Elliott advised Waterous Energ y Fund and Strathcona Resources with a team lead by Leland P. Corbett, Haifeng Hu, Chelsea Daku (corporate / M&A), Kurtis Reed (energ y), Julie D'Avi- gnon, Conrad Gibbs (tax), Brian Reigh (banking & finance), Michael Laskey, and Peter Flynn (competition & foreign in- vestment). ONROUTE, CANADIAN TIRE, AND IVY CHARGING NETWORK PARTNER FOR EV CHARGING INFRASTRUCTURE EXPANSION CLOSING DATE: DECEMBER 1, 2021 On December 1, 2021, Ivy Charging Network and ONroute and its partners, Canadian Tire Corporation (CTC) and the Ministry of Transportation (MTO), announced a partnership to install 69 level 3 fast-chargers across all ONroute locations, with the possibility of further expansion. Each location will have between two and four chargers to serve EV drivers. e partnership aims to reduce barriers to EV ownership by alleviating range anxiety when travelling along the prov- ince's busiest highways. ONroute is the operator of 23 conven- ient plazas located along Highways 400 and 401 in Ontario, offering travellers food and beverage options, gas, and other amenities to improve their travel experience. Canadian Tire is a group of companies that includes a retail segment, a financial services division, and CT R EIT. Ivy Charging Network, an equal part- nership between Hydro One and OPG, is a Canadian provider of open standards-based technology solutions for EV chargers. Natural Resources Canada, through its Electric Vehicle and A lternative Fuel Infrastructure Deployment Initiative, invested $8 million to help build the broader Iv y Charging Network, providing access to 160 level 3 fast-char- gers across Ontario, including these ONroute locations. Miller omson advised ONroute and CTC with a team led by Aaron E. Atche- son, Kelsey Vicary (projects, energ y, and real estate), Katherine Cavan (projects, energ y, and real estate), Perry Katz (retail), Lisa S. Goodfellow (retail), Kyle Bertsch, and Cindy Kim (students). Gowling WLG advised Ivy Char- ging Network with a team led by J. Scott Fletcher (corporate, energ y), Aubrey Lasky (corporate), Pam Vermeersch (retail), and Laura Van Soelen (projects, energ y). NOVENTA ENERGY PARTNERS DELIVERS WORLD'S LARGEST RAW WASTEWATER ENERGY TRANSFER PROJECT CLOSING DATE: SEPTEMBER 23, 2021 Noventa Energ y Partners presented a new system to develop a wastewater energ y transfer project at the Toronto Western Hospital and the Krembil Research Institute in Toronto, Ontario. Vancity Community Investment Bank (VCIB) and Canada Infrastructure Bank (CIB) provided financing of $15.3 million and $19.3 million, respectively, and the government of Canada invested $3.3 million from its Low Carbon Economy Fund. e project represents the world's largest raw wastewater energ y transfer project, which will generate enough thermal energ y using raw municipal wastewater from a sewer to supply 90 percent of the hospital's heating and cooling requirements, reducing its carbon emissions by a quarter