The Caisse de depot et placement du Quebec has signed a deal to buy a portfolio of solar power assets in Spain from Q-Energy.
Financial terms of the agreement were not immediately available.
The portfolio includes 73 assets located throughout Spain that together can produce enough electricity to supply more than 115,000 households.
Following the transaction, Q-Energy will continue carrying out day-to-day operations and monitoring and maintenance of the operations.
The Caisse says the investment is a first step in Spain and that it will look to acquire other renewable power assets.
The Caisse is one of Canada’s largest institutional fund managers.
Your time is valuable. Have the Top Business Headlines newsletter conveniently delivered to your inbox in the morning or evening. Sign up today.