Invenergy Wind has minority owner

Canadian fund manager Caisse de depot et placement du Quebec says it has acquired a 24.7% stake in Invenergy Wind, the third largest US-owned wind developer.

The Montreal-based company did not make public financial terms of the transaction, which US regulatory authorities approved.

Parent company Invenergy LLC whose headquarters is in Chicago will retail majority control of Invenergy Wind, which owns and operates 6.3GW of utility-scale renewable and naturas gas-fueled power generation facilities in the US, Canada and Europe.

It has another 1.6GW of projects under contract or in construction, according to the company’s website.

According to the American Wind Energy Association, Invenergy on 1 January owned 2.45GW of US wind generation capacity, sixth overall in the country behind NextEra Energy Resources, Iberdrola Resources, Berkshire Hathaway Energy, EDPR and E.ON Climate & Renewables.

Among US wind owners, it trails only NextEra and Berkshire, part of billionaire Warren Buffett’s Berkshire Hathaway holding company.

"As soon as we began discussions with Invenergy over two years ago, our objective was to build a long-term partnership," says Macky Tall, senior vice president, private equity and Infrastructure at La Caisse. “With this transaction, we continue to strengthen our partnership and increase our exposure to the US, a promising market for years to come."

In early 2013, La Caisse acquired a minority interest in an Invenergy wind farm portfolio, comprised of 11 projects in the US and two in Canada.

In April, La Caisse added a second Québec wind farm to the portfolio by investing C$42m ($39.4m) in Parc des Moulins.