Canada’s Potentia Renewables secures $78 million financing from La Caisse

Canada’s second-largest public pension fund, Caisse de dépôt et placement du Québec (CDPQ), which is also known in English-language media as La Caisse, announced it has provided Ontario-based rooftop solar power producer Potentia Renewables with 107 million CA$ ($78.0 million) in debt-funding.

La Caisse said Potentia Renewables will use the funds to develop additional solar projects throughout several locations in Canada on the rooftops of schools and commercial and industrial locations. Potentia Renewables also revealed that the money will be used to invest in its large platform of solar and wind development projects in North America and abroad, without providing further details.

Potentia Renewables has installed 569 PV systems with a combined capacity of 97 MW under Ontario’s FIT scheme to date.

La Caisse has so far invested in wind power projects across North America and in Western Europe, and in renewable energy and solar projects in India. In March 2016, the company announced a $150 million commitment to target hydro, solar, wind and geothermal power assets, “with investments likely to take the form of select partnerships with leading Indian renewable energy companies.” Later in January 2017, La Caisse announced it acquired a 20% stake in Indian solar company Azure Power for $75 million.