Caisse de dépôt et placement du Québec (CDPQ) and Invenergy have announced an increase of CDPQ’s stake in Invenergy Renewables LLC.
Caisse de dépôt et placement du Québec (CDPQ) and Invenergy have announced an increase of CDPQ’s stake in Invenergy Renewables LLC, a privately held North American renewable energy company. With this transaction, CDPQ will have a 52.4% economic ownership in Invenergy Renewables, while Invenergy will continue to be the managing member of the company.
Invenergy Renewables has developed projects totaling approximately 14,000 MW globally. Having initially invested in 2013 in wind farms operated by the company, CDPQ acquired a direct stake in Invenergy Renewables the following year. Since then, CDPQ has gradually increased its investment in the company.
“Invenergy is a true renewable energy leader. Over the years, we have seen the company’s impressive know-how, particularly in developing and operating projects, and its capacity to continuously innovate,” said Rana Ghorayeb, senior vice-president, investment, infrastructure, at CDPQ. “The wind- and solar-energy sector is a promising one for CDPQ, and this investment is in line with our strategy announced last fall to increase our exposure to low-carbon assets.”
In October 2017, CDPQ presented its investment strategy to address climate change, which sets out targets and means for making a constructive contribution, as an investor, to the transition toward a low-carbon global economy.
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