La Caisse backs Brazil’s energy transition with transmission joint venture

La Caisse has announced a new power transmission joint venture in Brazil. The Canadian pensions investor will partner with Latin American energy infrastructure Grupo Energía Bogotá (GEB) to establish Verene Energia S.A.

Verene, which will be jointly owned and controlled, covers over 9000km of transmission lines and covers 26 electric transmission concession agreements across 17 Brazilian states.

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In a statement, La Caisse noted that the investment is aligned with Brazil’s broader decarbonisation objectives.

“GEB brings more than 130 years of operating heritage and ranks among Latin America's leading energy infrastructure groups, with deep expertise across the region's transmission sector”, commented Emmanuel Jaclot, executive vice president and head of infrastructure and sustainability at La Caisse.

“Together, we share a vision to strengthen Verene's footprint in Brazil through value-creating acquisitions and continued support for the country's energy transition”, he adds.

According to the IEA, Brazil remains a top producer and exporter of oil and gas – led largely by its state-owned oil behemoth Petrobras. In recent years, the country’s energy transition has accelerated. IRENA estimates suggest the share of renewable generation in primary energy mix has risen to nearly 50%.

GEB president Juan Ricardo Ortega says the joint venture marks a key milestone for the company’s growth strategy.

“By combining our operational expertise and regional market knowledge with the financial strength and global perspective of our partner, we are creating a platform positioned to accelerate growth, expand transmission energy infrastructure, and support Brazil’s energy transition”, he says.

The value of the transaction, expected to close by Q4 2026, was not disclosed.

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