MONTREAL — Quebec's provincial pension fund manager announced Friday that it will invest $1 billion in Invenergy Renewables, which develops, owns and operates wind and solar power projects.
The Caisse de depot et placement du Quebec has had a relationship with Invenergy, which also specializes in energy storage, since 2013.
While its stake in the company has grown since then, the CDPQ said the new investment facilities announced Friday will be it largest investment in the Invenergy.
Jim Murphy, the president and CEO of Invenergy, said in a release that the investment will allow the company to accelerate its growth and maintain its position as an industry leader.
Based in Chicago, Invenergy said it has energy generation and storage facilities in the Americas, Europe and Asia. It also has regional development offices in the United States, Canada, Mexico, Colombia, Japan, Poland and Scotland.
It describes itself as the largest private developer, owner and operator of wind and solar projects in North America.
This report by The Canadian Press was first published Dec. 18, 2020.
The Canadian Press