La Caisse de dépôt et placement du Québec (CDPQ) and CKD Infraestructura México (CKD IM), a consortium of Mexican institutional investors has acquired 80 percent of a portfolio of eight wind and solar assets owned by Enel Green Power.
Enel will remain the operator and retain 20 percent of the portfolio.
This is a major investment for CDPQ and CKD IM, a group consisting of Mexican pension fund managers (Afores) XXI Banorte, Afore SURA, Banamex and Pensionissste, as well as infrastructure fund Fonadin. Since the creation of their investment platform in 2015, CDPQ and CKD IM have invested in road and telecommunication infrastructure. With this transaction, they now add the renewable energy sector to their portfolio.
This new partnership between CDPQ, CKD IM and Enel aligns with the highly favorable conditions in the wind and solar energy sector, as the Mexican government has set an objective to generate 40 percent of its electricity from renewable sources by 2035.
The five wind and three solar projects that make up the portfolio are spread across six Mexican states and represent a total capacity of 1,712 megawatts, of which 429 megawatts is operational and 1,283 megawatts are under construction.