The funding will help the Canadian developer finance new solar and wind projects
MONTREAL—Canadian pension fund manager Caisse de dépôt et placement du Québec has extended $107 million in debt financing to rooftop solar developer Potentia Renewables.
Potentia is the largest independent rooftop solar business in Canada; it owns and operates installations at a number of commercial, institutional and industrial sites, including The Home Depot and Canadian Tire stores. Currently, the company has 569 active solar arrays that produce approximately 97 megawatts of power.
Caisse said the fresh funding will help Potentia develop new projects while increasing the pension fund’s exposure to the growing renewable industry.
Along with rooftop Solar, Potentia is also developing a number of wind energy projects.