A consortium of competing shareholders associated with Innergex, in relation to its multibillion-dollar buyout by CDPQ.
In a significant move for the renewable energy industry, Innergex, a leading power producer specialising in the development, ownership, and operation of energy storage facilities, solar farms, wind farms, and hydroelectric facilities, has been acquired by Caisse de dépôt et placement du Québec (CDPQ) in a deal worth $10 billion.
The announcement was made on February 25, 2025, with the management group of Innergex's rollover shareholders being advised by Hoskin & Harcourt LLP. The team from Hoskin & Harcourt LLP consisted of Niko Veilleux, Jean- Philippe Bertrand, Daniel Stysis, Marissa Kyres (Corporate), Manon Thivierge and Jean-Philippe Dionne (Tax), and Julien Ranger-Musiol (Executive Compensation).
Hoskin & Harcourt LLP was not the only advisor involved in the deal. Greenhill & Co. also advised the management group of rollover shareholders of Innergex in the acquisition.
The acquisition marks a significant milestone for Innergex, a company that has been operating in the renewable energy sector for many years. With this acquisition, CDPQ, a global investment group, is set to expand its portfolio in the renewable energy sector.
The deal is expected to close in the second half of 2025, subject to customary closing conditions and regulatory approvals. With this acquisition, Innergex will join CDPQ's growing list of investments in the renewable energy sector, further cementing its commitment to a sustainable future.
The acquisition of Innergex by CDPQ, a global investment group, brings exciting opportunities for collaboration in the renewable energy sector, particularly in finance and energy industries. Greenhill & Co., alongside Hoskin & Harcourt LLP, have played crucial roles in facilitating this significant deal.
