CDPQ invests $134 million in Shizen Energy

Shizen Energy, a Japanese renewable energy company, has received JPY 20 billion investment from the Caisse de depot et placement du Quebec, a Canadian pension fund (CDPQ). The two firms also agreed on a co-investment framework, as part of which CDPQ has committed to invest an additional JPY 50 billion. As a result of the transaction, CDPQ now holds a board seat with Shizen Energy.

Shizen Energy plans to use the funding to further the development of its renewable energy projects and to carry out projects related to the digitalisation of the energy industry and the growth of human capital. Earlier in 2022, JIC Venture Growth Investments (JIC VGI) and SIGMAXYZ Investment assisted the company raise JPY 4.4 billion through a fundraising round.

In order to jointly build future growth opportunities, the company will also collaborate with other companies. Shizen Energy intends to construct various renewable energy projects in Japan, including small-scale hydroelectric power, biomass generating assets, onshore and offshore wind power, ground and roof-mounted solar power, and agri-solar power. The company intends to swiftly complete on-site and off-site power purchase agreements in Brazil and south-east Asia for its global projects.