Like TESCanada H2, a Belgian company close to the Desmarais clan, the Caisse intends to enter the green hydrogen space.
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“We are the second largest infrastructure player in the world, it is certain that at some point we will be a major player in this sector,” commented Charles Emond, CEO of Caisse de depot et Placement du Quebec (CDPQ), yesterday , in a press briefing Hustle.
Only one push so far
Through a fund set up with three other partners, Caisse de dépôt et Placement invested 200 million euros (just under 298 million Canadian dollars) in Hy2gen AG, a Germany-based manufacturer of hydrogen, in February 2022.
This is the Caisse’s first investment in hydrogen and the only one to date.
“We are still at the beginning, but what is certain is that hydrogen will play a role [dans nos actifs en énergie renouvelable] added Mr. Emond.
The Caisse has $400 billion under management, including $18 billion for renewable energy.
“We’re starting to dip our toe in,” he said again. For now, the Caisse continues to gain “market intelligence” thanks to its initial investment.
Hy2Gen and Quebec
Hy2Gen’s Canadian subsidiary also plans to build a green ammonia production facility in Quebec.
The company wants to establish itself in the port area of Baie-Comeau in the Côte-Nord region.
Even if the half-billion dollar project is not committed or made official, we know that two types of fuel would come out of this plant: green ammonia and kerosene ethanol.
This green ammonia could also be used to produce green hydrogen.
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