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Canadian institutional fund manager La Caisse De Depot Et Placement Du Quebec has spent CAD$42 million to support the Parc des Moulins wind energy project which is operated by Invernergy Wind LLC.
After this CAD$42 million transaction, Invenergy will continue to be the majority controlling shareholder. Other details about the investment deal were not disclosed.
Parc des Moulins is a 135.7 MW wind farm that has been in commercial operation since December 2013. It covers three Québec municipalities: Thetford Mines, Kinnear's Mills and Saint-Jean-de-Brébeuf.
Macky Tall, Senior Vice-President, Infrastructure, at La Caisse stated:
In line with our strategy, we continue to invest capital in quality infrastructure to generate attractive long-term returns for our clients. Alongside Invenergy, which operates and manages projects to the highest industry standards, we have already invested in several wind farms in Québec, Canada and the United States.
Jim Murphy, Invenergy's Executive Vice President and Chief Financial Officer stated:
We are pleased to complete this additional investment from La Caisse for our newest wind energy project in Québec. We are committed to the development of wind power in Québec, and the participation of La Caisse enhances our growing position in the province.
In early 2013, La Caisse revealed the acquisition of a stake in the Invenergy wind farm portfolio, featuring 11 wind projects in the US and two in Canada, including Le Plateau in the Gaspésie region. Dong Energy revealed in January that it is selling half of its 50% stake in the 630MW London Array offshore wind farm to La Caisse for £644 million.
Invenergy and its affiliated companies develop, own and operate large-scale renewable and other clean energy generation facilities in North America and Europe. North America's largest independent wind power generation company,
La Caisse is a financial institution that manages funds primarily for pubic and private pension and insurance plans. As at December 31, 2013, it held CAD$200.1 billion in net assets.