The Caisse de Depot et Placement du Quebec (CDPQ), headquarters is seen in downtown Montreal, Wednesday, Aug.16, 2023. Quebec fund manager CDPQ has signed a deal to acquire a 695-kilometre power transmission network in central Brazil in a transaction valued at up to $108.5 million. THE CANADIAN PRESS/Christinne Muschi
MONTREAL – The Caisse de dépôt et placement du Québec has signed a deal to acquire a 695-kilometre power transmission network in central Brazil in a transaction valued at up to $108.5 million.
The Quebec fund manager says Integração Transmissora de Energia SA (Intesa) will be integrated into Verene Energia, its Latin American power transmission platform.
Intesa’s network extends across central Brazil and is equipped with two substations.
The transaction is expected to close by the end of the year, subject to customary closing conditions and approvals.
CDPQ says the deal is its second power transmission investment in Latin America in the past 18 months.
It follows the acquisition of nearly 1,100 kilometres of power lines in Brazil and Uruguay.
This report by The Canadian Press was first published Nov. 1, 2023.
