On Friday, Caisse de dépôt et placement du Québec (CDPQ), a Canadian long-term institutional investor with C$333 billion in managed assets, announced that it is investing $1 billion in Invenergy Renewables, the largest private developer, owner and operator of wind and solar projects in North America.
The investment marks the largest in CDPQ’s nearly eight-year-long partnership with Invenergy, which began with a single stake in a portfolio of Invenergy wind farms, and was quickly followed by CDPQ taking a direct stake in Invenergy itself. Since that time, CDPQ has gradually expanded its holdings in the company.
Invenergy Renewables is an international leader in the development of wind, solar and energy storage projects, with extensive expertise across the industry’s value chain, including in the development, construction, operations and maintenance of renewable energy projects.
Based in Chicago, Invenergy has regional development offices in the U.S., Canada, Mexico, Colombia, Japan, Poland and Scotland. To date, it has successfully developed 25,000 MW of projects, including wind, solar and advanced energy storage.
“This new investment by CDPQ is the largest since we began our successful partnership with Invenergy in 2013,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “CDPQ is thrilled to put its constructive capital behind the men and women at Invenergy who passionately develop new renewable projects and thereby contribute to the climate transition.”
“These additional investment facilities will accelerate Invenergy Renewables’ growth and secure its industry leading position,” Invenergy President and Chief Operator Offier Jim Murphy said. “CDPQ has been a trusted and valued investment partner in our renewables business, and we look forward to working together to continue the affordable, reliable, and environmentally beneficial transformation of the power sector.”
In November, the company announced the development of a 1,310 MW solar energy generation facility in Northeast Texas. The $1.6 billion Samson Solar Energy Center, will be the largest solar facility in the United States upon completion, supporting 600 jobs over the course of its construction, with more than $250 million in landowner payments to local Texas communities and nearly $200 million in property tax payments over the life of the project. Samson Solar has power supply agreements in place with McDonald’s, Google, Home Depot, and three Texas municipalities.