Quebec Firm Commits $150 Million To Renewables In India

Posted by Betsy Lillian on March 09, 2016 No Comments
Categories : New & Noteworthy

Long-term institutional investor Caisse de dépôt et placement du Québec (CDPQ) has committed $150 million to renewable energy investments in India, as well as established a strategic presence in the country.

Its new office, CDPQ India, is based in New Delhi and will be headed by Anita Marangoly George, managing director for South Asia.

Before joining CDPQ India, George was senior director of the World Bank Group’s global practice on energy and extractives. Prior to that, she was director of infrastructure and natural resources at the International Finance Corp., a member of the World Bank Group. Before that, she was head of Siemens’ financial services in India.

CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. Already a significant investor in renewable energy, CDPQ says it has financed over 5.4 GW of wind power in North America through its stake in Invenergy. CDPQ is also a major shareholder of the 630 MW London Array offshore wind farm.

Over the next three to four years, CDPQ India will target hydro, solar, wind and geothermal power assets. Investments will likely take the form of select partnerships with Indian renewable energy companies.

“We believe India stands out as an exceptional country to invest in, given the scope and quality of investments opportunities, the potential for strategic partnerships with leading Indian entrepreneurs, and the current government’s intention to pursue essential economic reforms,” comments Michael Sabia, president and CEO of CDPQ.

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