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CDPQ acquires 25% stake in First Hydro Company from Brookfield

Sep 24, 2024•about 1 year ago

Acquiring Company

Verene Energia

Acquired Company

First Hydro Company

MontrealLiverpoolFinanceRenewable EnergyOil And GasEnergy

Description

CDPQ, a global investment group, has entered into an agreement with Brookfield to acquire its 25% stake in First Hydro Company, a critical electricity generation and storage facility in the United Kingdom. This investment marks CDPQ's first foray into pumped hydro storage, and they are delighted to join forces with Engie, a world leader in the energy sector.

Company Information

Company

Verene Energia

Location

Montreal, Quebec, Canada

About

Verene Energia is a power transmission platform. It focuses on managing and operating power transmission assets to meet the increasing energy needs. With a significant scale in high-voltage lines, it aims to support Brazil's decarbonization objectives. The company is growing strategically in the Brazilian power sector.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed