Canadian investment group La Caisse has completed its acquisition of Innergex Renewable Energy and assembled a consortium of domestic and international investors to support the company’s long-term development, it said in a statement on Monday.
The transaction marks a strategic milestone for Innergex, a leading independent renewable energy producer in Canada, and positions the company for accelerated growth both domestically and abroad.
La Caisse, formally known as Caisse de dépôt et placement du Québec (CDPQ), said the deal reflects a broader effort to strengthen Canada’s role in the global energy transition.
“Innergex is a Canadian renewable energy leader and plays a key role in the energy transition,” said Emmanuel Jaclot, executive vice president and head of infrastructure at La Caisse. “To shift into a higher gear, the company needed shareholders aligned with its long-term potential, protected from stock market cycles.”
To broaden support, La Caisse syndicated around 20% of its invested capital in Innergex to bring in aligned investors, including several institutions based in Québec such as Investissement Québec, Desjardins Global Asset Management, and Fondaction. The syndicate also includes 14 Swiss institutional investors.
“This privatisation immediately provides Innergex with increased financial agility to accelerate the development of large-scale projects,” Jaclot added. “It is a reflection of Innergex’s potential and Québec’s leadership in the energy transition.”
Innergex president and CEO Michel Letellier said the new ownership structure will help drive the company’s global ambitions.
“With the strong commitment of a group of leading investors, Innergex is beginning a new chapter in its history,” Letellier said. “Together, we will accelerate the development of promising renewable energy projects, here and around the world, and continue building a more sustainable energy future for all.”
As majority shareholder, La Caisse said it would continue to back Innergex’s long-term growth strategy by leveraging its global portfolio of infrastructure assets and experience in renewable energy development.
The transaction underscores growing investor interest in stable, long-horizon energy assets amid global efforts to decarbonize power systems.
