Caisse de dépôt et placement du Québec (CDPQ), a shareholder of the London Array offshore wind farm, will invest USD 150 million in renewable energy in India.
The Canadian institutional fund manager also established its Indian office in New Delhi, and appointed Anita Marangoly George as Managing Director, South Asia, with the objective of finding the best investment opportunities across all asset classes in South Asian markets. Ms. George will take up her new position on April 1, 2016.
Over the next three to four years, CDPQ will use its commitment to target hydro, solar, wind and geothermal power assets, with investments likely to take the form of select partnerships with leading Indian renewable energy companies.
“We believe India stands out as an exceptional country to invest in, given the scope and quality of investments 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 Chief Executive Officer of CDPQ.