Power Sustainable Capital has teamed up with a group of institutional investors, including Desjardins Group as anchor investor, to launched a C$1bn (鈧�646.5m) North American renewable energy investment platform.
The Power Sustainable Energy Infrastructure Partnership, which has a 鈥渟ignificant sponsorship commitment鈥� 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 Apr猫s-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鈥檚 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鈥檚 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.
鈥淭his new and unique partnership approach leverages decades of sound investment practices and is a true alignment of convictions from all parties involved.鈥�
Guy Cormier, president and CEO of Desjardins Group, said: 鈥淲ith this major investment in green infrastructure in Canada and the US we show our commitment to the fight against climate change.
鈥淚t is our largest participation in wind and solar farms to date. I am particularly proud of this Desjardins Group鈥檚 investment to contribute to a lower-carbon environment.鈥�
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