CDPQ to Invest USD 1 Billion in Invenergy Renewables
- CDPQ has dedicated USD 1 billion to Invenergy Renewables, one of the biggest designers, proprietors and also drivers of RE projects in North America
Caisse de dépôt et positioning du Québec (CDPQ), a worldwide institutional investor, has actually revealed a USD 1 billion dedication to Invenergy Renewables, one of the biggest exclusive programmers, owners and also drivers of wind as well as solar projects in North America, to more assistance the company in its increased advancement tasks and continued development.
The company stated that "this commitment, in the form of new financial investment facilities, stands for an additional vital action in CDPQ's lasting partnership with Invenergy, which began virtually eight years ago with a stake in a portfolio of operating wind farms established by the market leader."
In the year that adhered to, CDPQ had actually gotten a direct stake in Invenergy, thus enhancing its direct exposure to the development of renewable resource projects with a world-renowned companion. Throughout the years, CDPQ has progressively expanded its investments in the company.
" This brand-new financial investment by CDPQ is the biggest considering that we began our successful partnership with Invenergy in 2013," stated Emmanuel Jaclot, Executive Vice-President and also Head of Infrastructure at CDPQ. "CDPQ is enjoyed put its constructive funding behind the men as well as females at Invenergy who passionately establish brand-new eco-friendly projects and therefore contribute to the climate change."
Invenergy Renewables is a worldwide leader in the growth of wind, solar and also power storage space projects. It has considerable expertise in the numerous segments of the sector's value chain, including in the advancement, building, operations as well as upkeep of renewable energy projects.
" These additional investment centers will certainly speed up Invenergy Renewables' development and also safeguard its industry-leading position," said Jim Murphy, Invenergy President as well as Chief Operating Officer. "CDPQ has actually been a trusted and valued investment companion in our renewables business and we eagerly anticipate working together to proceed the cost effective, reliable, as well as ecologically valuable change of the power sector."
In March, Azure Power had introduced CDPQ had gotten additional shares of AZRE from a stakeholder. A purchase that has actually seen CDPG end up being a bulk stakeholder in the Indian solar power developer. According To Azure Power, CDPG has acquired an additional 717,701 shares from a shareholder of AZRE. And that after acquiring the additional shares, it is the straight proprietor of 24,259,272 shares of AZRE, which represent a bulk 50.9 percent of the outstanding shares of Azure Power Global Limited.
