CDPQ to Acquire Innergex Renewable Energy Inc. for C$10.0 Billion

February 25, 2025

Caisse de dépôt et placement du Québec (CDPQ) has entered into a definitive agreement to acquire all issued and outstanding common shares of Innergex Renewable Energy Inc. for C$13.75 per share, implying a total enterprise value of C$10.0 billion. The transaction will take Innergex private, has unanimous support from Innergex’s board and backing from largest shareholder Hydro-Québec, and is expected to close by Q4 2025 subject to customary approvals.

Buyers
Caisse de dépôt et placement du Québec (CDPQ)
Targets
Innergex Renewable Energy Inc.
Sellers
Innergex common shareholders, Innergex Series A and Series C preferred shareholders
Industry
Energy
Location
Quebec, Canada
Transaction Type
Buyout

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