Quebec Fund Manager To Acquire Nearly 25% Of Invenergy's Wind Division

NAW Staff, Friday 11 July 2014 - 13:35:53

La Caisse de depot et placement du Quebec is acquiring a 24.7% interest of Invenergy's wind division.

Terms of the deal were not disclosed. The transaction must be approved by the relevant U.S. regulatory authorities. La Caisse becomes a minority shareholder of the operating company.

The two firms are certainly no strangers. In early 2013, La Caisse invested $500 million in Invenergy’s portfolio of 11 wind farms in the U.S. and Canada.

In April of this year, La Caisse added a second Quebec wind farm to the portfolio by investing $42 million in the Parc des Moulins wind energy project at Thetford Mines.

"As soon as we began discussions with Invenergy over two years ago, our objective was to build a long-term partnership," says Macky Tall, senior vice president, private equity and infrastructure at La Caisse. "When we first invested in the company's wind farms, we were impressed by the strong management team and the quality of the projects in the portfolio. With this transaction, we continue to strengthen our partnership and increase our exposure to the U.S. - a promising market for years to come."

Invenergy has developed more than 6.3 GW of utility-scale renewable and natural gas-fueled power generation facilities in the U.S., Canada and Europe - with approximately 1.6 GW under contract or in construction.


this content item is from North American Windpower
( http://www.nawindpower.com/e107_plugins/content/content.php?content.13183 )