CDPQ looks to increase visibility in Spain after making initial acquisition

• Canadian institutional fund supervisor Caisse de dépôt et positioning du Québec (CDPQ) has acquired a portfolio of 73 Spanish solar plants from renewables financier Q-Energy.

The assets, which have a total capability of 216MWp, will create the basis of a brand-new CDPQ system devoted to environment-friendly power facilities in Spain.

With an objective of minimizing its carbon intensity by 25% per buck spent between 2017 as well as 2025, CDPQ has been an active gamer in the solar sector over the last few years. The business possesses a majority stake in North American environment-friendly power firm Invenergy Renewables as well as has actually previously provided financing for both Lightsource BP and Sunrun to develop their solar offerings.

Emmanuel Jaclot, head of framework at CDPQ, said the take care of Q-Energy is a milestone in the release of its long-term European infrastructure method. "With this transaction, we are laying the foundation of our renewables platform in Spain, which will certainly enable us to gradually enhance our presence in this crucial eco-friendly market and attain CDPQ's carbon intensity reduction targets."

Complying with the purchase, which is anticipated to be finalised in the coming months, Q-Energy will continue to supply procedures as well as upkeep services for the 73 possessions.

Madrid-headquartered Q-Energy currently takes care of greater than 150 renewable resource plants throughout Spain, Italy and also Germany, producing over 1.3 GW of power. The company's starting partner, Iñigo Olaguibel, claimed it has plans to continue purchasing the sustainable market through its brand-new Q-Energy IV Fund.