Today, Power Sustainable Capital Inc. ("Power Sustainable"), a global multi-platform alternative asset manager focused on long-term investments in sustainable strategies, announced the launch of the Power Sustainable Energy Infrastructure Partnership ("the Partnership"), an investment platform with an initial $1B dedicated to the renewable energy sector, including a significant sponsorship commitment from Power Sustainable.
Power Sustainable is joined by a group of select founding partners led by Desjardins Group, including Great-West Lifeco, National Bank of Canada and Apres-demain SA.
Power Sustainable and its partners are creating an investment platform with broad project development expertise and operating capabilities in renewable energy. Through Potentia Renewables and Nautilus Solar Energy, two wholly-owned subsidiaries of Power Sustainable and leading integrated owner-operators of high-quality renewable energy assets, the Partnership will invest in the development, construction, financing and operation of renewable energy assets across North America.
Committed to decarbonization and driven by patient capital
The Partnership will benefit from Power Sustainable's disciplined yet agile approach as well as its patient capital philosophy.
"This is a landmark moment for Power Sustainable, and the first of several projects we intend to bring to the sustainable investment marketplace in the coming years. This new and unique partnership approach leverages decades of sound investment practices and is a true alignment of convictions from all parties involved. I look forward to this collaboration with our co-investors on this exciting journey," says Olivier Desmarais, Chairman and CEO of Power Sustainable. "We share one goal at Power Sustainable: becoming a leading force for sustainable change. This is the kind of impact we seek and this is why we are committing our own funds to this endeavour."
From climate change to diversity, inclusion and good corporate governance, Power Sustainable believes that today's investment strategies must embrace those principles which are fundamental to sustainable value creation and to future global economic prosperity. The Partnership's existing and future investments in large multistage renewable energy projects will adhere to these guiding principles and contribute to the transition to a sustainable, low-carbon global economy.
"Sustainable development is in Desjardins Group's DNA," says Guy Cormier, President and CEO of Desjardins Group. "With this major investment in green infrastructure in Canada and the US we show our commitment to the fight against climate change. It is our largest participation in wind and solar farms to date. I am particularly proud of this Desjardins Group's investment to contribute to a lower-carbon environment. We can go further together."
The Power Sustainable Energy Infrastructure Partnership will be led by co-managing partners Pierre Larochelle and Pierre-Olivier Perras. Before joining Power Sustainable, Mr. Larochelle was President and CEO of Power Energy Corporation (a subsidiary of Power Sustainable) and previously, Vice-President, Investments of Power Corporation. Pierre-Olivier Perras first joined Power Energy in 2019 after over twenty years at BMO Capital Markets, where he held various leadership positions including, in his last role, Head of the Power, Utilities and Infrastructure Investment Banking group.
"Potentia Renewables and Nautilus Solar Energy are remarkable operating platforms and are becoming significant change agents in the renewable energy landscape in North America. Together with our founding partners' support, we have all the winning elements to establish a leading operational-driven investment platform that stays ahead of market trends and creates sustainable long-term value for our investors and the communities where we operate," say Pierre Larochelle and Pierre-Olivier Perras, Co-Managing Partners, Power Sustainable Energy Infrastructure Partnership.
About Power Sustainable
Power Sustainable is a global multi-platform alternative asset manager with a long-term investment approach focused on sustainable strategies. It has offices in Montreal, Toronto, Shanghai, Beijing and New Jersey. Power Sustainable is comprised of three platforms: the Pacific platform invests in the China equity markets, seeking high-quality, sustainable business models with a fundamentals-based, research-driven investment process; the Energy Infrastructure platform invests in the development, construction and operations of renewable energy infrastructure assets in North America; and private equity investments in Lion Electric and Lumenpulse. The company leverages its investment capabilities and those of its partners to build projects of significance that benefit the planet, assure steady growth and create long-term value. Power Sustainable is a wholly owned subsidiary of Power Corporation of Canada. For more information, visit www.powersustainable.com
Power Sustainable Capital
Power Sustainable Capital