Caisse de dépôt et placement du Québec (CDPQ) has increased its stake in Azure Power Global (AZRE), an independent solar power developer in India, bringing its total ownership to 50.9 percent of the outstanding shares of the company.
CDPQ purchased an additional 717,701 shares in AZRE, bringing its total ownership to more than 24.259 million shares.
Financial terms were not disclosed.
"This additional investment represents a new chapter in our partnership with Azure Power,” noted Emmanuel Jaclot, executive vice president and head of infrastructure at CDPQ. “We have built a relationship over the years, deepening our understanding of every aspect of Azure Power: its assets, its operations and its people. We are excited to continue supporting them for the next phase of their growth in the promising Indian solar energy sector.”
CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. As of Dec. 3
