CDPQ Acquires 25% Stake in UK's First Hydro Company

The Quebec investment manager partners with Brookfield Asset Management to enter the pumped hydro storage market.

The Caisse de dépôt et placement du Québec (CDPQ) has signed an agreement to purchase a 25% stake in First Hydro Company.
This deal marks CDPQ's first venture into the pumped hydro storage sector.
First Hydro Company manages and operates two power plants in Wales.
French utility Engie remains the majority shareholder with a 75% stake in First Hydro.
The transaction is expected to be finalized by the end of 2024.