The Desjardins Group Pension Plan and Innergex Renewable Energy have acquired a Quebec hydroelectric facility.
They bought the Sainte-Marguerite-1 generating station in Sept-Îles from Hydroméga Group of Companies for $82.1 million, plus the assumption of $30.8 million in debt.
“The Desjardins Group Pension Plan is proud to partner with Innergex for an investment of this nature, here in Quebec,” says Sylvain Gareau, vice-president responsible for the plan. “We have been associated with Innergex since its inception, and this partnership is important—both for our organization and for our participants.”
At the end of 2013, the plan had $8.3 billion in net assets, and the market value of its infrastructure portfolio was $800 million. It has more than 57,000 beneficiaries.
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