The Caisse de dépôt et placement du Québec is financing part of a renewable energy project in Japan.
The investment organization is investing about $90 million in a green bond released by Vena Energy Ltd. The green bond’s proceeds will be used to finance a solar power project on Honshu, Japan’s largest and most populous island. Once completed, the project is expected to provide enough power for 7,000 households.
“As the demand for clean energy is rising globally, this financing is well aligned with our strategy to support high-quality and essential infrastructure assets that contribute to the energy transition,” said Marc Cormier, executive vice-president and head of fixed income at the Caisse, in a press release.
In other news, a grain distributor backed by the British Columbia Investment Management Corp. and the Canada Pension Plan Investment Board is acquiring a cereal product distributor for US$1.125 billion.
Viterra Inc., which is part-owned by the CPPIB (39.99 per cent) and the BCI (9.99 per cent) is acquiring Gavilon, a company that stores and distributes grain and oilseeds for sale throughout the U.S. “This acquisition further strengthens our global network by providing us with a material presence in every major exporting region and makes us one of the largest origination businesses in our industry,” said David Mattiske, chief executive officer of Viterra, in a press release.