CDPQ invests CAD90m in Japanese solar project bond

Canadian investment group Caisse de dépôt et placement du Québec (CDPQ) has invested CAD90m in a Japanese green project bond. The transaction includes Vena Energy, a renewable energy company with operations across Asia. According to CDPQ, the proceeds will finance a 35MW solar project in Japan’s Fukushima prefecture supplying 7,000 households per year with renewable energy. Marc Cormier, head of fixed income at CDPQ, said: “As the demand for clean energy is rising globally, this financing is well aligned with our strategy to support high-quality and essential infrastructure assets that contribute to the energy transition”. The bond is Vena Energy’s first experience with project-level debt markets. Simone Grasso, Vena Energy’s chief investment officer, commented: “This innovative green project bond marks an expansion of Vena Energy’s debt capital market activities from corporate to project level, further diversifying our financing sources and increasing our flexibility to fund future growth.