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The Caisse de dépôt et placement du Québec is investing $ 1 billion in an offshore wind farm off Taiwan.
With this funding, the Caisse and its Taiwanese companion, Cathay PE, will collectively purchase 50 per cent of the Grand Changhua 1 offshore wind farm, which shall be situated 35 to 60 kilometres off the coast of Taiwan.
The 2 firms will make investments $three.four billion to make this acquisition. A spokesperson for the Caisse, nevertheless, confirmed to Presse Canadienne on Monday that the Caisse’s participation within the settlement shall be $1 billion.
The development of the Grand Changhua 1 park is being carried out by Danish agency Orsted, which has already put in greater than 1,500 offshore wind generators all over the world.
“This funding in Taiwan, which represents a sexy marketplace for the Caisse, permits us to additional diversify our presence in Asia,” first vice-president and head of infrastructure on the Caisse, Emmanuel Jaclot, stated in a press release.