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CDPQ acquires 25% of UK's First Hydro Company from Brookfield
CDPQ acquires 25% of UK's First Hydro Company from Brookfield Canada NewsWire ...
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[{"type":"text","content":"\n\n\n\n CDPQ acquires 25% of UK's First Hydro Company from Brookfield\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prntaj{\nTEXT-ALIGN: JUSTIFY\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Investment in a critical national infrastructure providing 76% of the\n \n United Kingdom's\n \n total pumped hydro storage capacity\n \n\n\n\n MONTRÉAL and\n \n LONDON\n \n\n ,\n \n\n Sept. 24, 2024\n \n\n /CNW/ - CDPQ, a global investment group, today announced it has entered into an agreement with Brookfield Asset Management (NYSE: BAM) (TSX: BAM) and its institutional partners, including its listed affiliate Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) (TSX: BEP.UN) (TSX: BEPC) (together \"Brookfield\"), to acquire its 25% stake in First Hydro Company, a critical electricity generation and storage facility in the\n \n United Kingdom\n \n . Engie is the majority shareholder who owns the remaining 75% of the company.\n \n\n Responsible for the management and operation of two power plants at Dinorwig and Ffestiniog in the Snowdonia region of\n \n Wales\n \n , First Hydro offers a capacity of more than 2,000 MW, representing 76% of the total pumped hydro storage in the\n \n United Kingdom\n \n , making it a critical infrastructure to face the country's increasing needs of grid flexibility and stability.\n \n\n\n \"First Hydro is playing a critical role in helping the\n \n United Kingdom\n \n manage its national electricity system and meet its net zero commitment by providing renewable electricity and storage capabilities,\"\n \n said Emmanuel Jaclot, CDPQ's Executive Vice-President and Head of Infrastructure\n \n . \"This investment marks CDPQ's first foray into pumped hydro storage, and we are delighted to join force...