CDPQ and CKD IM to Acquire Enel Renewable Energy Assets in Mexico

Caisse de dépôt et placement du Québec (CDPQ) and CKD Infraestructura México S.A. de C.V. (CKD IM), an investment vehicle funded by some of Mexico’s largest pension investors, acquired an 80% stake in a portfolio of wind and solar assets owned by Enel Green Power México S.r.l. de C.V, the Mexican unit of Italian renewable energy company Enel Green Power (Enel), in a deal worth US$ 1.35 billion. This transaction blueprints the “Build, Sell and Operate” aka BSO model, which is being used by many in the renewable energy infrastructure space.

Milestone Deal in Mexican Renewable Infrastructure

The transaction will mark the investment platform’s first venture in the renewable energy sector since its creation in 2015, joining CDPQ and CKD IM’s portfolio of investments in Mexican road and telecommunication infrastructure. The Mexican government has set a goal of generating 40% of its power supply from renewable energy sources by 2035.

“This transaction broadens our exposure in renewable energy alongside a leading operator,” said Macky Tall, Executive Vice-President of Infrastructure at CDPQ in a press release. “By creating a platform with key Mexican partners in 2015, we wanted to be positioned to identify the best opportunities in Mexico, a priority market for CDPQ.” Mr. Tall was ranked eighth in SWFI’s fifth annual Public Investor 100 list, which includes some of the most significant and impactful public investor executives of 2017.

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