Canadian Pension Fund Caisse de dépôt et Placement du Québec (CDPQ) announced on Friday that it will invest $ 1 billion in Invenergy Renewables LLC, the largest private developer, owner and operator wind and solar power plants in North America.
CDPQ's $ 1 billion investment is the largest since its partnership with the company in 2013, said CDPQ's executive vice president and head of infrastructure, Emmanuelle Jaclot.
“CDPQ is delighted to invest its constructive capital in support of Invenergy and its teams, which are enthusiastic about developing new renewable energy projects and thus contributing to climate change,” said the head of the pension fund.
CDPQ's net assets as of June 30, 2020 were C $ 333.0 billion. The Canadian Pension Fund is one of the largest institutional fund managers in the country, investing in major financial markets as well as private placements, infrastructure and real estate.
Invenergy Renewables is an international leader in the development of wind power, solar power and energy storage projects. The company is engaged in the development, construction, operation and maintenance of projects in the field of renewable energy sources.