Canada's CDPQ takes stake in construction & renewables co Pomerleau

Wind farm pre-construction. Image by: Borea Construction (www.boreaconstruction.com).

June 25 (Renewables Now) - Canadian fund manager La Caisse de depot et placement du Quebec (CDPQ) said Friday it has invested CAD 50 million (USD 37.6m/EUR 32.3m) in a minority stake in domestic construction and renewable energy firm Pomerleau, the co-owner of wind farm builder Borea.

Based in Quebec, the target entity has nine offices across Canada and a headcount of 4,000. Apart from being involved in the building and civil engineering sectors, Pomerleau is also active in the renewables construction segment through Borea Construction. The latter is a joint venture of Pomerleau and Blattner Energy, which offers wind energy construction services and has installed over 4,000 MW of wind parks in Canada. The 468.5-MW Six-Pack and the 231-MW Niagara Region farms are some of the biggest on the list.

According to CDPQ, the investment will facilitate Pomerleau’s expansion plans over the coming years.

"In addition to helping us stay at the forefront, la Caisse’s involvement will allow us to target new growth opportunities to enhance our position among the leaders in the Canadian construction industry, from coast to coast," said Pierre Pomerleau, CEO and president.

(CAD 1.0 = USD 0.752/EUR 0.645)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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