CDPQ invests $474m in Japan energy programme

It comprises a JPY 20bn investment in Shizen and an agreement to provide up to JPY 50m in co-investment for future projects. This is CDPQ’s first direct infrastructure investment in Japan. The plan includes helping Shizen expand to international markets.

The capital will allow Shizen to accelerate ongoing renewable power plant development activities, business enhancement initiatives in energy digitalisation, and a staff expansion in certain markets. CDPQ has taken a seat on the board of directors.

Shizen develops a range of renewable energy projects, including ground and roof-mounted solar power, agri-solar power, onshore and offshore wind, small-scale hydroelectric, and biomass power. It also conducts R&D on systems to improve renewable energy efficiency.

For its overseas projects, Shizen will expand an existing business of on-site and off-site power purchase agreements in Southeast Asia and Brazil while working on large-scale solar and wind projects in partnership with leading local companies.

“This transaction in Japan is an important milestone in the deployment of CDPQ’s long-term Asia Pacific infrastructure strategy,” Emmanuel Jaclot, head of infrastructure at CDPQ, said in a statement.

“Japan has a crucial role to play in the decarbonation of Asia, and as an investor with deep experience in renewable energy, we are delighted to be working with the Shizen team to deliver on their ambitious plan for the energy transition.”

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• Topics
• North Asia
• Infrastructure
• Cleantech
• Expansion
• Japan
• Caisse de depot et placement du Quebec (CDPQ)
• energy
• renewable energy