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The Caisse de dépot et placement du Québec is entering a co-investment collaboration targeting ventures in the sustainable energy sector.

The three-year agreement between the Caisse and the BP-owned investment firm BP Ventures has already resulted in an investment in Bridge to Renewables Inc., which is developing software infrastructure to enable electric vehicles to interact with electricity markets. The company currently provides a platform that empowers electric vehicle manufacturers, fleet operators, charging station networks and renewable electricity generators to work together effectively.

Read: Caisse, CPPIB not addressing scale of climate crisis in investments: think tank

The collaboration will also see the Caisse and BP Ventures make targeted investments in companies involved in improving electrification infrastructure and the adoption of renewable energy, batteries and biofuels.

In a press release, Geneviève Bouthillier, managing director of private mid-market companies and stewardship investing at the Caisse, said it may also target any companies accelerating the transition away from fossil fuels. “Our co-investment in BTR Energy is a good example of what we aim to do with BP Ventures. [We aim to] invest in promising companies that have demonstrated their capability to have a concrete impact in order to propel their growth.”

Read: AIMCo won’t divest from hydrocarbons, says CEO

In other news, the Alberta Investment Management Corp. is acquiring two new logistics warehouses in the U.K.

Developed by Baytree Logistics Properties in 2019, the two units have a combined area of 37,000 square metres and are located on a 13-hectare industrial property in Dunstable.

Both units are already under long-term leases. United Parcel Service, the tenant of the first unit, has a five-year lease. Inc. holds a 15-year lease on the second, which was custom-built for the online shopping giant.

“In addition to solid real estate fundamentals, the buildings’ strong green credentials are important to us and align closely with AIMCo’s commitment to responsible investment,” said Rupert Wingfield, the investment organization’s head of European real estate.

Read: CPPIB investing in commercial real estate in Mumbai and Birmingham