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

Cygnet Energy to Acquire Kiwetinohk Energy in C$1.4 Billion Deal

October 29, 2025

Energy

Cygnet Energy has entered into a definitive agreement to acquire Kiwetinohk Energy Corp. (KEC) for C$24.75 per share in cash, valuing the transaction at approximately C$1.4 billion including debt. The deal is expected to close in December 2025, subject to court and regulatory approvals, with funding primarily from NGP Energy Capital Management and Carlyle and a portion of ARC Financial’s KEC shares rolling into Cygnet equity.

La Caisse to Acquire Edify Energy

September 22, 2025

Renewable Energy

La Caisse (formerly CDPQ) has entered into binding agreements to acquire Edify Energy, an Australian renewable energy and battery storage developer/operator. The investment is expected to total approximately CAD 1 billion, funding the acquisition and additional equity to support next-phase development of hybrid solar and battery energy storage projects totaling 900 MW / 3,600 MWh and a pipeline exceeding 11 GW.

AES Agrees to Sell 30% Indirect Equity Interest in AES Ohio to CDPQ

September 17, 2024

Energy

The AES Corporation agreed to sell a 30% indirect equity interest in AES Ohio to CDPQ for approximately US$546 million, with closing expected in the first half of 2025. The transaction expands AES’s existing CDPQ partnership model used at AES Indiana while keeping no change in management or operational control of AES Ohio.

TotalEnergies to Acquire Quadra Energy

October 26, 2023

Energy

TotalEnergies has signed agreements with the Aloys Wobben Foundation to acquire the entire share capital of Germany-based renewable electricity aggregator Quadra Energy. The acquisition is subject to relevant regulatory approvals and is intended to strengthen TotalEnergies’ integrated power business in Germany, including aggregation, trading, and corporate PPA/clean firm power offerings.

Ember Infrastructure Takes H2O Innovation Private

October 3, 2023

Environmental Services

Ember Infrastructure Management, with co-investors Investissement Québec (IQ), Caisse de dépôt et placement du Québec (CDPQ), Ontario Power Generation Inc. Pension Fund (OPG) and H2O Innovation management, acquired H2O Innovation for C$395 million (C$4.25 per share) in a take-private transaction. The transaction is intended to support H2O Innovation's growth strategy — including acquisition-driven expansion — while maintaining the company's Quebec headquarters and workforce of nearly 1,100 employees.

CDPQ Acquires Significant Stake in ICR (Investcorp Portfolio Company)

September 21, 2021

Marketing & Advertising

Caisse de dépôt et placement du Québec (CDPQ) will acquire a significant stake in ICR, the Investcorp‑backed strategic communications and advisory firm, joining Investcorp and ICR management to support the company’s growth and global expansion. The transaction is intended to accelerate ICR’s organic growth and acquisition strategy; it remains subject to customary regulatory approvals.