Global investment group La Caisse (formerly CDPQ), has entered a binding agreement to acquire Edify Energy, an Australian renewable energy and battery storage company, and support its next phase of growth. The transaction, combined with additional equity capital funding, is expected to represent an investment of approximately C$1 billion ($719 million).
The investment will fund the acquisition of Edify and provide equity to finance two ready-to-build integrated solar and battery energy storage system (BESS) hybrid projects totaling 900 megawatts/3,600 megawatt-hours for offtake partners, Rio Tinto and the Commonwealth of Australia. It also will support the company’s pipeline of hybrid and battery storage projects of more than 11 gigawatts.
“Our acquisition of Edify highlights the track record and expertise of its team and a commitment to Australia’s clean energy future,” said Emmanuel Jaclot, executive vice president and head of infrastructure and sustainabilit
