La Caisse, the Canadian pension giant formerly known as CDPQ, has committed $200m in primary equity to Renewa, a land financing company supporting renewable energy projects across the United States.
The investment, announced on 15 July, brings Renewa’s total funding commitments to over $750m since its inception in 2022. Backed by Australian investor QIC, Renewa specialises in acquiring or leasing land beneath clean energy infrastructure, helping to meet the growing demand for sites to host solar, wind, and energy storage projects. Estimates suggest more than 20 million acres will be needed to modernise US energy infrastructure.
Renewa currently holds land interests under more than 140 renewable energy assets, representing around 26GW of clean energy capacity. Since QIC’s acquisition in 2022, its network has expanded to over 75 operators across 30 states, including major developers such as Enel Green Power, Lightsource bp, and Invenergy.
Emmanuel Jaclot, executive vice-president and head of infrastructure at La Caisse, said the investment will “accelerate the development of key infrastructure while safeguarding ecosystems and managing local stakeholders.”
Renewa’s co-founders and co-CEOs, Stephen Lee and Gage Mooring, welcomed La Caisse as a partner, emphasising the importance of land capital solutions for the energy transition.
La Caisse manages some CAD 473bn in assets on behalf of several public and parapublic pension plans in Québec.
