Financing from
Desjardins Group’s Capital Markets Division, equity investments from the
Desjardins Group Pension Plan (DGPP), and contributions from two other insurance subsidiaries have resulted in the investment of more than $1 billion toward renewable energy and clean technologies.
Of the total investment amount, nearly $550 million was invested in 31 wind farms, about $300 million in 14 solar energy projects, and $155 million in nine hydroelectric projects and a biomass power plant.
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According to a release, the facilities together can generate almost 2,700 MW of energy – enough power to sustain all the households in Montreal. Put in perspective, it is enough energy to power Quebec City 3.7 times, and enough to power the Ottawa-Gatineau area 1.5 times.
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“With a portfolio of $750 million in renewable and clean energy investments, the Desjardins Group Pension Plan was a pioneer in the wind, solar and hydroelectricity sectors,” said DGPP vice-president Sylvain Gareau. “The assets make up half of our infrastructure portfolio. On Earth Day, we would like to recognize the Canadian investors who are building the economy of the 21st century.”
“Canada is rich in renewable energy sources and we can see this in our infrastructure financing portfolio,” said vice-president of Capital Markets at Desjardins Jean-Yves Bourgeois. “These energy sectors create high-value-added jobs and are drivers of growth for Desjardins. We’re proud to finance this growing strategic sector and to contribute to the development of clean and renewable sources of energy for Canadians.”
Mediacorp Canada on April 22 – Earth Day – named Desjardins one of the greenest employers in Canada. The insurance group has made it to Mediacorp’s list for three straight years.
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