Caisse de dépôt et placement du Québec has announced its commitment to invest US$150 million in renewable energy in India as it establishes a CDPQ India based in New Delhi and appoints a managing director for South Asia.
In a news release, the institutional fund manager said it will use its commitment over the next three to four years to target hydro, solar, wind and geothermal power assets, with investments likely to take the form of select partnerships with Indian renewable energy companies.
It also appointed Anita Marangoly George as managing director, South Asia, effective April 1, 2016.
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“We believe India stands out as an exceptional country to invest in, given the scope and quality of investments opportunities, the potential for strategic partnerships with leading Indian entrepreneurs, and the current government’s intention to pursue essential economic reforms,” said Michael Sabia, president and CEO of Caisse.
Based in Delhi, George will head CDPQ India, with the objective of finding the best investment opportunities across all asset classes in South Asian markets.
“With Ms. George’s vast experience in the South Asian business environment, CDPQ will be ideally positioned to identify the right partners and the best opportunities,” said Rashad Kaldany, CDPQ’s executive vice-president, growth markets.
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“I look forward to joining CDPQ India’s office and to contribute to the performance of CDPQ in South Asia, a region that offers attractive investment opportunities in a number of key sectors,” added George. “I am pleased to combine my knowledge of South Asian markets and my experience in several industries alongside CDPQ’s investment teams to enhance our presence in growth markets.”
George’s previous experience includes managing global investment portfolios in infrastructure, more specifically in the energy, oil and gas, mining, water, transportation and logistics sectors. Before joining CDPQ India, she was senior director of the World Bank Group’s Global Practice on Energy and Extractives.
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