Caisse de dépôt is investing US$546 million in the American company AES, which supplies energy to Google, Microsoft and Amazon.
With this investment, the Caisse acquires 30% of AES Ohio, a subsidiary of the public service company that wants to invest US$1.5 billion in modernizing its network to increase its market share in the data center sector.
The Caisse is already a partner of AES Indiana, another AES subsidiary whose modernization and decarbonization of operations it has supported.
“For the CPDQ, this is a unique opportunity to invest in regulated assets that play a key role in meeting the electricity demand of more than half a million customers,” explained its vice-president and head of infrastructure, Emmanuel Jaclot.
AES Ohio wants to meet growing demand from data centers, which could increase peak demand on its grid’s electrical system by more than 50% by the end of the decade. Most of that energy will come from renewable sources.
AES Corporation is an energy company based in Arlington, Virginia, whose shares are traded on the New York Stock Exchange.