Power Sustainable Capital has teamed up with a group of institutional investors, including Desjardins Group as anchor investor, to launched a C$1bn (€646.5m) North American renewable energy investment platform.
The Power Sustainable Energy Infrastructure Partnership, which has a “significant sponsorship commitment” from Power Sustainable and led by Canadian cooperative financial group Desjardins, is also backed by Canadian insurer Great-West Lifeco, National Bank of Canada and Swiss investment firm Après-demain.
The newly created platform is expected to invest an initial C$1bn in the development, construction, financing and operation of renewable energy assets across North America via Power Sustainable’s subsidiaries Potentia Renewables and Nautilus Solar Energy.
The partnership will be led by co-managing partners Pierre Larochelle and Pierre-Olivier Perras. Larochelle was president and CEO of Power Sustainable’s subsidiary Power Energy Corporation and previously, VP of investments at Power Corporation. Perras first joined Power Energy in 2019 after over twenty years at BMO Capital Markets.
Olivier Desmarais, chairman and CEO of Power Sustainable, said the partnership is the first of several projects the intends to bring to the sustainable investment marketplace in the coming years.
“This new and unique partnership approach leverages decades of sound investment practices and is a true alignment of convictions from all parties involved.”
Guy Cormier, president and CEO of Desjardins Group, said: “With this major investment in green infrastructure in Canada and the US we show our commitment to the fight against climate change.
“It is our largest participation in wind and solar farms to date. I am particularly proud of this Desjardins Group’s investment to contribute to a lower-carbon environment.”
To read the digital edition of the latest IPE Real Assets magazine click here.
