Brazil's Power Sector Attracts CDPQ's $108.5M Investment

02 Nov, 2023

Brazil's Power Sector Attracts CDPQ's $108.5M Investment

Caisse de dépôt et placement du Québec Acquires Brazilian Power Transmission Network

Caisse de dépôt et placement du Québec (CDPQ) has finalized an agreement to purchase a 695-kilometer power transmission network in central Brazil, a transaction valued at up to $108.5 million. This acquisition will see Integração Transmissora de Energia SA (Intesa) becoming part of Verene Energia, CDPQ's Latin American power transmission platform.

Intesa's extensive network covers central Brazil and includes two substations. The deal is anticipated to conclude by year-end, pending customary closing conditions and approvals.

Notably, this marks CDPQ's second investment in power transmission in Latin America over the past 18 months, building on its acquisition of nearly 1,100 kilometers of power lines in Brazil and Uruguay.

This transaction signifies CDPQ's commitment to expanding its presence and investments in the energy sector in Latin America, further reinforcing its strategic position in the region.