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CDPQ Announces $474 Million Investment in Japan's Shizen Energy Renewables Developer

CDPQ said that it will invest up to $474 million in Shizen Energy, a Japanese renewable energy firm, in order to facilitate the company's growth in Japan and important foreign markets.

The announcement includes a $135 million investment by CDPQ in Shizen Energy and a $339 million prospective co-investment structure.

Co-founders and Directors of Shizen Energy, Ken Isono, Masaya Hasegawa, and Kenji Kawado, stated:

"It is an honor to forge this cooperation with CDPQ, which has been working toward sustainable management for decades and is presently investing in the long-term achievement of a decarbonized society. "Shizen Energy has been working towards its mission of "We act for the blue world," and we believe that even greater speed is required to address global warming and energy concerns."

The agreement comes as Japan seeks to significantly expand its capacity for renewable energy. In July 2021, the government released the specifics of their energy policy, which included intentions to almost quadruple the proportion of renewable energy by 2030, from less than 20% to 36% to 38%. Japan has pledged to achieve net zero emissions by 2050, with an interim aim of a 46% reduction in greenhouse gas emissions by 2030.

According to the firms, the new investments will permit Shizen Energy to accelerate its continuing renewable power plant development efforts, business enhancement initiatives in energy digitalization, and expansion of human resources in important markets.

In Japan, Shizen intends to develop a variety of renewable energy sources, such as ground and roof-mounted solar power, agri-solar power, onshore and offshore wind power, small-scale hydroelectric power, and biomass power. Overseas, the company will expedite on-site and off-site PPAs in southeast Asia and Brazil with the intention of collaborating with prominent local enterprises on large-scale solar and wind power generating projects.

Executive Vice President and Head of Infrastructure at CDPQ, Emmanuel Jaclot, stated:

This deal in Japan represents a significant milestone in CDPQ's long-term Asia-Pacific infrastructure strategy deployment. As an investor with extensive experience in renewable energy, we are thrilled to be partnering with the Shizen team to realise their ambitious goal for the energy transition. Japan plays a critical role in the decarbonization of Asia.

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