CDPQ establishes India office
Caisse de dépôt et placement du Québec (CDPQ) has founded its India office and committed to invest $150 million in renewable energy in the country.
CDPQ India, based in Delhi, will seek investment opportunities across all asset classes in South Asian markets, according to a release. The $150 million will be committed over the next three to four years, targeting partnerships with Indian renewable energy operators in hydropower, solar, wind and geothermal power projects.
The India office will be run by Anita Marangoly George, the former senior director of the World Bank's Global Practice on Energy and Extractives, who has been appointed CDPQ's Managing Director for South Asia. George has worked at the World Bank since 2014; before that, she was Director of Infrastructure and Natural Resources at the International Finance Corporation (IFC).
"We believe India stands out as an exceptional country to invest in, given the scope and quality of investment opportunities, the potential for strategic partnerships with leading Indian entrepreneurs, and the current government's intention to pursue essential economic reforms," said Michael Sabia, president and CEO of CDPQ.
CDPQ is a long-term institutional investor, managing funds mainly for pension and insurance plans. As of December 31, 2015, it had $248 billion in assets worldwide. Its other offices in the Asia-Pacific region are in Singapore, Sydney and Beijing.
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