CDPQ, a global investment group, and the Fonds de solidarité FTQ announced today an additional investment totaling $575 million in Énergir to support the growth of this North American energy leader and the execution of its decarbonization and climate resilience plan.

With this new investment, Énergir will be able to execute its decarbonization and resilience strategy. Developing renewable energy projects and renewable natural gas production plants, pursuing the deployment of dual energy in Québec and the Zero Outages Initiative of its subsidiary, Green Mountain Power, in Vermont, are among the concrete measures included in the strategy.

Énergir is a diversified energy company with over $10 billion in assets whose mission is to meet the energy needs of its 535,000 customers in an increasingly sustainable fashion, notably with renewable energy. The leading gas distribution company in Québec, Énergir is also present in the United States, where it produces electricity from hydro, wind and solar sources, in addition to being the primary distributor of electricity and the sole distributor of natural gas in Vermont.

“Supporting the growth and energy transition of our portfolio companies, particularly those in Québec, are central elements of CDPQ’s strategy, and our backing of Énergir since 2004 is a good example of that,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “Alongside the Fonds de solidarité FTQ, we are determined to keep supporting this innovative company as it grows, diversifies and decarbonizes its activities to have a greener North American economy.”

“Énergir has a plan to accelerate Québec’s decarbonization and energy transition. With this new investment, the Fonds is supporting the development of the renewable natural gas sector, which will help reduce greenhouse gas emissions from fossil sources,” added Gilles Poulin, Vice-President, Private Equity and Impact Investing, Aerospace, Infrastructure and Transportation, at the Fonds de solidarité FTQ.