La Caisse invests in Quebec project

Institutional fund manager La Caisse de depot et placement du Quebec has made a C$42m ($38m) investment in the 135.7MW Parc des Moulins wind farm in Quebec.

The wind farm began operation last December and will remain majority owned by US developer Invenergy.

“In line with our strategy, we continue to invest capital in quality infrastructure to generate attractive long-term returns to our clients,” says Macky Tall, senior vice president, infrastructure, at La Caisse.

La Caisse, based in Montreal, in early 2013 acquired an equity stake in Invenergy’s wind farm portfolio that includes 11 US projects and two in Canada including Le Plateau in Quebec’s Gaspesie region.

Invenergy is the second largest US wind developer with 2.455GW in nameplate capacity on 1 January, according to the American Wind Energy Association.

“We are committed to the development of wind power in Quebec, and the participation of La Caisse enhances our growing position in the province,” says Invenergy chief financial officer Jim Murphy.