Canadian pension fund buys 40% of CLP India for US$363.51m

This will allow the fund to co-own a portfolio with 2,948.2MW capacity.

Canadian pension fund Caisse de dépôt et placement du Québec (CDPQ) bought 40% of CLP India Private Limited (CLP India) for US$363.51m (INR26.4b). Parent company CLP Group will retain a majority 60% shareholding in CLP India.

“CLP and CDPQ are aligned on the strategy for CLP India and it is envisaged that with the
strategic backing and financial support of both shareholders, CLP India will pursue a faster
path of growth to a long-term sustainable business with a larger and more diversified portfolio,” CLP Group said in an announcement.

CLP India seeks to invest in renewable energy and non-generation businesses such as transmission, distribution, and other customer-focused businesses.

Currently, it holds a generation portfolio in India with 2,948.2MW capacity and its recent focus has been on expanding its low-carbon business.