Caisse de dépôt et placement du Québec (CDPQ), a global institutional investor, has announced that it will invest USD 1 billion in Invenergy Renewables LLC (Invenergy), a private developer, owner and operator of wind and solar projects in North America, to further support the company in its development activities and growth.
CDPQ’s partnership with Invenergy began nearly eight years ago when it bought a stake in a portfolio of operating wind farms developed by Invenergy. Later, CDPQ also acquired a direct stake in Invenergy. Over the years, CDPQ has gradually expanded its investments in the company.
“This new investment by CDPQ is the largest since we began our successful partnership with Invenergy in 2013,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “CDPQ is thrilled to put its constructive capital behind the men and women at Invenergy who passionately develop new renewable projects and thereby contribute to the climate transition.” “These additional investment facilities will accelerate Invenergy Renewables’ growth and secure its industry leading position,” said Jim Murphy, Invenergy President and Chief Operating Officer. “CDPQ has been a trusted and valued investment partner in our renewables business and we look forward to working together to continue the affordable, reliable, and environmentally beneficial transformation of the power sector.”