CDPQ to acquire a 25% stake in First Hydro from Brookfield.

CDPQ, a global investment group, agreed to acquire a 25% stake in First Hydro, a critical electricity generation and storage facility in the United Kingdom, from Brookfield, an investment management company. Financial terms were not disclosed. “First Hydro is playing a critical role in helping the United Kingdom manage its national electricity system and meet its net zero commitment by providing renewable electricity and storage capabilities. This investment marks CDPQ’s first foray into pumped hydro storage, and we are delighted to join forces with Engie, a longstanding partner for CDPQ and a world leader in the energy sector," Emmanuel Jaclot, CDPQ Executive Vice-President and Head of Infrastructure.