La Caisse buys 24.7% stake in Invenergy Wind

CANADA: La Caisse de depot et placement du Québec has acquired a 24.7% stake in US developer Invenergy Wind.

by David Weston 11 July 2014

Le Caisse already held a stake in the Le Plateau project, Quebec

Financial details of the acquisition have not been revealed but La Caisse said Invenergy would remain the controlling shareholder.

The Canadian pension fund manager had previously purchased a stake in a portfolio of Invenergy's projects in the US and Canada.

In 2013, the two companies agreed a deal that saw the Canadian firm buy a minority interest in 13 wind projects for US$500 million.

The portfolio had a total capacity of 1.5GW and included the 138.6MW Le Plateau I project in Québec, east Canada.

In April 2014, Le Caisse also invested C$42 million (US$39.5 million) in Invenergy's 135.7MW Parc des Moulins, also in Québec.

Invenergy said it has developed 54 projects, totalling more than 5GW of capacity in Canada, the US, the UK and Poland.