CANADA - The C$125bn (US$80.1bn) giant Caisse de dépôt et placement du Québec (CDP) pension fund, has put C$13.9m (US$9m) into the SAM Private Equity Energy (SPE Energy) Fund, a venture capital fund that invests in non-polluting alternative energy companies.
Based in Guernsey, SPE Energy is a subsidiary of SAM Sustainable Asset Management, a Swiss asset management company focused on sustainability-driven investments. The fund will invest in alternative energy companies involved in energy efficiency, renewable energy, energy management and energy storage as well as e-commerce and information technologies related to such areas.
CDP claims that the investment will give it a foothold in a sector that is on the verge of profound change, similar to the technological revolution of the 1980s. CDP believes that deregulation and the abolition of tariff barriers in the Canadian electricity industry have encouraged the growth of alternative energy by enabling companies to penetrate new markets and to compete more effectively with producers of conventional, polluting energy.
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