La Caisse to acquire stake in Invenergy

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La Caisse to acquire stake in Invenergy

Invenergy is seeking US regulatory approval for a proposed agreement to sell a 24.7% equity interest in subsidiary Invenergy Wind to Caisse de depot et placement du Quebec (CDPQ), one of Canada's largest institutional fund managers. Financial terms of the deal were not disclosed.

Invenergy has asked the US Federal Energy Regulatory Commission to approve the transaction by 7 July 2014.

Invenergy Investment currently owns 82.7% and Liberty Holdings holds 16.5% of Invenergy Wind. After this transaction Invenergy Investment will continue to own a controlling ownership interests in Invenergy Wind.

Invenergy Wind LLC, a wind energy development company, develops, owns, and operates utility-scale wind generation facilities in the United States. It serves a range of utilities, load serving entities and industrials. The firm, which  owns more than a dozen US wind farms and development projects, is the third largest US-owned wind developer after NextEra Energy Resources and Berkshire Hathaway Energy

Invenergy develops, owns, and operates power generation facilities in North America and Europe. The firm has developed more than 8,000MW of utility-scale renewable and natural gas-fueled power generation facilities in the USA, Canada, and Europe. This includes more than 6,300MW of projects in operation, with approximately 1,600MW under contract or in construction.

The Caisse de dépôt et placement du Québec (CDPQ) manages public pension plans in the Canadian province of Quebec. The Canadian pension and investment entity in early 2013 acquired an initial equity stake in Invenergy's wind farm portfolio that includes 11 US and two Canadian projects. In April, it made a CAD$42 million investment in the 135.7MW Parc des Moulins wind farm in Quebec.

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