Desjardins backs Power Sustainable's new USD-787m renewables platform

Canadian financial services cooperative Desjardins Group has become the anchor investor for a new CAD-1-billion (USD 787m/EUR 648m) renewables investment platform launched by alternative asset manager Power Sustainable Capital Inc.

The so-called Power Sustainable Energy Infrastructure Partnership will pursue investments in the development, construction, financing and operation of renewable energy assets across North America. It will do so through Potentia Renewables and Nautilus Solar Energy, two fully-owned units of Power Sustainable, which, in turn, is part of Power Corporation of Canada (TSE:POW).

The partnership will be led by co-managing partners Pierre Larochelle, former president and CEO of Power Energy Corporation, and Pierre-Olivier Perras.

In addition to Power Sustainable and Desjardins, the new platform is backed by founding partners Great-West Lifeco, National Bank of Canada and Apres-demain SA.

“With this major investment in green infrastructure in Canada and the US we show our commitment to the fight against climate change. It is our largest participation in wind and solar farms to date,” commented Guy Cormier, President and CEO of Desjardins Group.

(CAD 1.0 = USD 0.787/EUR 0.648)

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