Caisse puts $500m into wind
Canadian investment giant Caisse de dépôt et placement du Québec has sunk $500m into a 1.5GW portfolio of North American wind farms operated by Invenergy.
Following the deal, the Caisse will have a stake in 11 US wind projects and two in Canada, although Chicago-based Invenergy remains the controlling shareholder.
The assets involved include the 139MW Le Plateau wind farm in Québec, which sells its power to utility Hydro-Québec under a long-term deal.
The Caisse has an investment portfolio of some $159bn under management for public and private pension and insurance funds.
“The Caisse becomes a partner of Invenergy, one of the most significant wind industry players in North America,” says Macky Tall, senior vice-president, infrastructure, at the financial institution.
“In addition to generating stable and predictable long-term returns, the projects will enable us to broaden our presence in a forward-looking sector, renewable energy, in Québec, Canada and the US.”