The Caisse de dépôt et placement du Québec will provide $107 million in debt financing to a Canadian rooftop solar power producer.
Potentia Renewables Inc., which produces solar equipment for the rooftops of schools, as well as commercial and industrial buildings, will use the funds to develop more renewable power projects. The Caisse previously invested in a Potential Renewables project in 2014.
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“Over the years, Potentia has demonstrated its ability to deliver successful projects,” Marc Cormier, executive vice-president of fixed income at the Caisse, said in a release. “Today’s transaction provides the company with the financing necessary to expand its portfolio of assets in the renewable energy sector. In addition to increasing the population’s access to green energy, this is a prime example of the importance la Caisse places on assets that provide persistent returns in a promising sector.”
The Caisse has an interest in one of India’s largest solar power producers, as well as multiple Canadian projects. It has also invested in wind power projects across North America and in western Europe.