Caisse investing in wind and solar projects, AIMCo in German real estate

The Caisse de dépôt et placement du Québec is increasing its stake in an Indian power company.

In an agreement reached with CLP Power India Private Ltd., the organization will increase its stake in Apraava Energy Ltd. by 10 per cent for a full 50 per cent investment in the building.

Founded in 2002, the Mumbai-based diversified power company has wind and solar energy assets located in seven of India’s states. It also owns two power transmission facilities.

Read: Caisse financing U.S. fibre optic network expansion, OMERS buying Australian telecom towers

According to Emmanuel Jaclot, executive vice-president and head of infrastructure at the Caisse, the reinvestment was made in order to support the growth of the company’s sustainable energy offerings. “Ever since our investment in Apraava Energy nearly four years ago, CDPQ has strived alongside CLP to transform Apraava into a true sustainability leader equipped with a clear plan to transition to renewable energy.”

In other news, the Ontario Teachers’ Pension Plan is acquiring a majority stake in a New Zealand telecommunications infrastructure business.

According to the terms of the deal reached with Spark New Zealand Trading Ltd., the organization will acquire 70 per cent interest in its subsidiary TowerCo for NZ$900 million ($720 million). Alongside the deal, Spark New Zealand entered a 15-year agreement with TowerCo to secure access to existing and new towers. Over the next decade, Spark New Zealand will also construct more than 600 towers that will be added to TowerCo’s existing portfolio of 1,263.

Read: CPPIB investing in energy storage provider, Ontario Teachers’ in Indian roads

In a press release, Bruce Crane, the Ontario Teachers’ senior managing director and head of Asia Pacific infrastructure and natural resources, said the investment is part of a global strategy by the pension fund to invest in infrastructure assets. “This investment builds on our long track record of investing in superior businesses in New Zealand and will draw on our deep experience investing in digital infrastructure businesses globally.”