CDPQ looks to expand presence in Spain after making maiden acquisition

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The acquired assets have a total capacity of 216MWp Image: Q-Energy.

Canadian institutional fund manager Caisse de dépôt et placement du Québec (CDPQ) has acquired a portfolio of 73 Spanish solar plants from renewables investor Q-Energy.

The assets, which have a total capacity of 216MWp, will form the basis of a new CDPQ platform dedicated to green energy infrastructure in Spain.

With a goal of reducing its carbon intensity by 25% per dollar invested between 2017 and 2025, CDPQ has been an active player in the solar industry in recent years. The company owns a majority stake in North American green energy company Invenergy Renewables and has previously provided financing for both Lightsource BP and Sunrun to develop their solar offerings.

Emmanuel Jaclot, head of infrastructure at CDPQ, said the deal with Q-Energy is a milestone in the deployment of its long-term European infrastructure strategy. “With this transaction, we are laying the foundation of our renewables platform in Spain, which will allow us to progressively increase our presence in this key renewable market and achieve CDPQ's carbon intensity reduction targets.”

Following the transaction, which is expected to be finalised in the coming months, Q-Energy will continue to provide operations and maintenance services for the 73 assets.

Madrid-headquartered Q-Energy currently manages more than 150 renewable energy plants across Spain, Italy and Germany, generating over 1.3GW of power. The company’s founding partner, Iñigo Olaguibel, said it has plans to continue investing in the renewable sector through its new Q-Energy IV Fund.

Read Next

May 6, 2022
German renewables company BayWa r.e. will tender 10TWh of green electricity later this year, describing the move as a “turning point” for Europe’s power purchase agreement (PPA) market.
May 6, 2022
The European Union (EU) should set higher solar PV deployment targets and speed up the energy transition to phase out its energy dependency on Russia as soon as possible, according to five member states of the bloc.
May 5, 2022
German conglomerate BayWa benefited from high demand for solar modules during the first quarter of 2022, with its revenues bolstered by the sale of an operational PV plant in the US.
April 25, 2022
Independent onshore renewables firm Ventient Energy has completed the acquisition of 240MW of solar PV as part of a broader renewables portfolio.
April 20, 2022
Tech major Amazon has added 37 new renewable energy projects around the world, with a total of 3.5GW of additional power to its already 12.2GW portfolio of renewable energy.
April 8, 2022
Aena’s board of directors has contracted Construcciones San José for the construction of a 142.42MWp solar PV park at Adolfo Suárez Madrid-Barajas airport.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 14, 2022
Napa, USA
Solar Media Events
October 4, 2022
New York, USA