La Caisse supports Canadian renewables with USD-78m loan
Summary
Caisse de depot et placement du Quebec (CDPQ) announced on Monday it will provide CAD 107 million (USD 78m/EUR 72m) in debt financing to Canadian rooftop solar power producer Potentia Renewables.By doing so, the institutional fund manager will support the development of additional renewable power projects by Potentia. Back in 2014, la Caisse backed the construction of a Potentia solar array, which is now up and running. "Potentia will use the capital to invest in its large platform of solar and wind development projects in North America and abroad and accelerate its profitable growth," said Jeff Jenner, CEO of Potentia Renewables.The renewables developer currently has 569 operational solar arrays with a combined capacity of about 97 MW, enough to power more than 12,000 homes per year. Their output is sold to the local electrical grid under 20-year contracts.Choose your newsletter by Renewables Now. Join for free!