MONTRÉAL, Sept. 5, 2024 /CNW/ - CDPQ, a global investment group, and the Fonds de solidarité FTQ announced today an additional investment totaling $575 million in Énergir to support the growth of this North American energy leader and the execution of its decarbonization and climate resilience plan.
With this new investment, Énergir will be able to execute its decarbonization and resilience strategy. Developing renewable energy projects and renewable natural gas production plants, pursuing the deployment of dual energy in Québec and the Zero Outages Initiative of its subsidiary, Green Mountain Power, in Vermont, are among the concrete measures included in the strategy.
Énergir is a diversified energy company with over $10 billion in assets whose mission is to meet the energy needs of its 535,000 customers in an increasingly sustainable fashion, notably with renewable energy. The leading gas distribution company in Québec, Énergir is also present in the United States, where it produces electricity from hydro, wind and solar sources, in addition to being the primary distributor of electricity and the sole distributor of natural gas in Vermont.
"Supporting the growth and energy transition of our portfolio companies, particularly those in Québec, are central elements of CDPQ's strategy, and our backing of Énergir since 2004 is a good example of that," said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. "Alongside the Fonds de solidarité FTQ, we are determined to keep supporting this innovative company as it grows, diversifies and decarbonizes its activities to have a greener North American economy."
"Énergir has a plan to accelerate Québec's decarbonization and energy transition. With this new investment, the Fonds is supporting the development of the renewable natural gas sector, which will help reduce greenhouse gas emissions from fossil sources," added Gilles Poulin, Vice-President, Private Equity and Impact Investing, Aerospace, Infrastructure and Transportation, at the Fonds de solidarité FTQ.
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, CDPQ works alongside its partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As of June 30, 2024, CDPQ's net assets totalled CAD 452 billion. For more information, visit cdpq.com, consult our LinkedIn or Instagram pages, or follow us on X.
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed for use by its subsidiaries. |
ABOUT THE FONDS DE SOLIDARITÉ FTQ
The Fonds de solidarité FTQ is a source of pride in Québec, fulfilling its mission through a unique business model created more than 40 years ago. Since then, the Fonds has rallied Québec into action thanks to the retirement savings of over 785,000 shareholders.
With net assets of $20 billion as at May 31, 2024, the Fonds supports thousands of companies through venture and development capital investments based on the belief that impact is created as much by financial as societal returns. For more information, visit fondsftq.com or LinkedIn.
For more information
CDPQ
KATE MONFETTE
Director, Media Relations, CDPQ
+ 1 438 525-2520
[email protected]
Fonds de solidarité FTQ
PATRICK McQUILKEN
Senior Advisor, Media Relations and Communications
+ 1 514 703-5587
[email protected]
SOURCE Énergir
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