CDPQ acquires 25% of UK';s First Hydro Company from Brookfield
CDPQ, a global investment group, has announced an agreement with Brookfield Asset Management (NYSE: BAM) and its partners to acquire a 25% stake in First Hydro Company, a critical electricity generation and storage facility in the United Kingdom. First Hydro operates two power plants in Wales, offering a capacity of over 2,000 MW, representing 76% of the UK's total pumped hydro storage. This infrastructure is important for the country's increasing grid flexibility and stability needs.
The investment marks CDPQ's first venture into pumped hydro storage, partnering with Engie, which owns the remaining 75%. Emmanuel Jaclot, CDPQ's Executive VP and Head of Infrastructure, highlighted First Hydro's critical role in managing the UK's national electricity system and meeting net zero commitments. The financial close is expected by the end of 2024, subject to customary conditions and approvals.
CDPQ, un gruppo di investimento globale, ha annunciato un accordo con Brookfield Asset Management (NYSE: BAM) e i suoi partner per acquisire una partecipazione del 25% in First Hydro Company, una struttura critica per la generazione e lo stoccaggio di elettricit脿 nel Regno Unito. First Hydro gestisce due centrali elettriche in Galles, offrendo una capacit脿 di oltre 2.000 MW, che rappresenta il 76% del totale dello stoccaggio idroelettrico pompato nel Regno Unito. Questa infrastruttura 猫 fondamentale per le crescenti esigenze di flessibilit脿 e stabilit脿 della rete nel paese.
L'investimento segna la prima incursione di CDPQ nello stoccaggio idroelettrico pompato, in collaborazione con Engie, che possiede il restante 75%. Emmanuel Jaclot, Vice Presidente Esecutivo e Responsabile delle Infrastrutture di CDPQ, ha sottolineato il ruolo fondamentale di First Hydro nella gestione del sistema elettrico nazionale del Regno Unito e nel raggiungimento degli impegni per il net zero. La chiusura finanziaria 猫 prevista entro la fine del 2024, soggetta alle consuete condizioni e approvazioni.
CDPQ, un grupo de inversi贸n global, ha anunciado un acuerdo con Brookfield Asset Management (NYSE: BAM) y sus socios para adquirir una participaci贸n del 25% en First Hydro Company, una instalaci贸n cr铆tica para la generaci贸n y almacenamiento de electricidad en el Reino Unido. First Hydro opera dos plantas de energ铆a en Gales, con una capacidad de m谩s de 2,000 MW, lo que representa el 76% del total del almacenamiento hidroel茅ctrico por bombeo en el Reino Unido. Esta infraestructura es importante para las crecientes necesidades de flexibilidad y estabilidad de la red en el pa铆s.
La inversi贸n marca la primera incursi贸n de CDPQ en el almacenamiento hidroel茅ctrico por bombeo, asoci谩ndose con Engie, que posee el 75% restante. Emmanuel Jaclot, Vicepresidente Ejecutivo y Jefe de Infraestructura de CDPQ, destac贸 el papel cr铆tico de First Hydro en la gesti贸n del sistema el茅ctrico nacional del Reino Unido y el cumplimiento de los compromisos de cero emisiones netas. Se espera que el cierre financiero se realice a finales de 2024, sujeto a las condiciones y aprobaciones habituales.
CDPQ電� 旮�搿滊矊 韴瀽 攴鸽９鞙茧鞃� Brookfield Asset Management (NYSE: BAM) 氚� 韺岉姼雱堧摛瓿� 頃粯 First Hydro Company鞚� 25% 歆�攵勳潉 鞚胳垬頃橂姅 瓿勳暯鞚� 觳搓舶頄堧嫟瓿� 氚滍憸頄堨姷雼堧嫟. First Hydro電� 鞓侁淡鞐愳劀 鞝勱赴 靸濎劚 氚� 鞝�鞛レ潉 鞙勴暅 欷戩殧頃� 鞁滌劋搿�, 鞗澕鞀れ棎 霊� 臧滌潣 氚滌爠靻岆ゼ 鞖挫榿頃橂┌ 2,000 MW 鞚挫儊鞚� 鞖╇焿鞚� 鞝滉车頃╇媹雼�. 鞚措姅 鞓侁淡 鞝勳泊 韼岉攧 靾橂牓 鞝�鞛レ唽鞚� 76%鞐� 頃措嫻頃╇媹雼�. 鞚� 鞚疙攧霛茧姅 甑皜鞚� 歃濌皜頃橂姅 鞝勲牓毵� 鞙犾棸靹� 氚� 鞎堨爼靹� 鞖旉惮毳� 於╈”頃橂姅 雿� 欷戩殧頃╇媹雼�.
鞚措矆 韴瀽電� CDPQ鞚� 韼岉攧 靾橂牓 鞝�鞛レ唽 攵勳暭鞐� 雽�頃� 觳� 氩堨Ц 歆勳稖搿�, 雮橂ǜ歆� 75%毳� 靻岇湢頃橁碃 鞛堧姅 Engie鞕� 順戨牓頃橁碃 鞛堨姷雼堧嫟. CDPQ鞚� 鞚疙攧霛� 雼措嫻 攵�須岇灔鞚� 鞐愲雺橃棙 鞛愴伌搿�(Emanuel Jaclot)電� First Hydro臧� 鞓侁淡 甑皜 鞝勲牓 鞁滌姢韰滌潉 甏�毽晿瓿� 韮勳唽 欷戨 氇╉憸毳� 雼劚頃橂姅 雿� 欷戩殧頃� 鞐暊鞚� 頃滊嫟瓿� 臧曥“頄堨姷雼堧嫟. 鞛爼鞝� 毵堦皭鞚� 鞚茧皹鞝侅澑 臁瓣贝 氚� 鞀轨澑鞐� 霐半澕 2024雲� 毵愱箤歆� 鞕勲霅� 瓴冹溂搿� 鞓堨儊霅╇媹雼�.
CDPQ, un groupe d'investissement mondial, a annonc茅 un accord avec Brookfield Asset Management (NYSE: BAM) et ses partenaires pour acqu茅rir une participation de 25% dans First Hydro Company, une installation essentielle de g茅n茅ration et de stockage d'茅lectricit茅 au Royaume-Uni. First Hydro exploite deux centrales 茅lectriques au Pays de Galles, offrant une capacit茅 de plus de 2 000 MW, repr茅sentant 76% du total du stockage hydro茅lectrique par pompage au Royaume-Uni. Cette infrastructure est importante pour r茅pondre aux besoins croissants en flexibilit茅 et en stabilit茅 du r茅seau du pays.
Cette investissement marque le premier pas de CDPQ dans le stockage hydro茅lectrique par pompage, en partenariat avec Engie, qui d茅tient les 75% restants. Emmanuel Jaclot, Vice-pr茅sident ex茅cutif et responsable des infrastructures chez CDPQ, a soulign茅 le r么le crucial de First Hydro dans la gestion du syst猫me 茅lectrique national du Royaume-Uni et dans l'engagement envers la neutralit茅 carbone. La cl么ture financi猫re est attendue d'ici la fin de 2024, sous r茅serve des conditions et approbations habituelles.
CDPQ, eine globale Investmentgruppe, hat eine Vereinbarung mit Brookfield Asset Management (NYSE: BAM) und deren Partnern angek眉ndigt, um eine 25%-Beteiligung an der First Hydro Company zu erwerben, einer wichtigen Anlage zur Stromerzeugung und -speicherung im Vereinigten K枚nigreich. First Hydro betreibt zwei Kraftwerke in Wales mit einer Kapazit盲t von 眉ber 2.000 MW, was 76% des gesamten Pumpspeicherkraftwerks im Vereinigten K枚nigreich ausmacht. Diese Infrastruktur ist entscheidend f眉r die wachsenden Anforderungen an Flexibilit盲t und Stabilit盲t des Stromnetzes im Land.
Die Investition markiert CDPQs ersten Vorsto脽 im Bereich der Pumpspeichertechnologie in Partnerschaft mit Engie, die die verbleibenden 75% besitzt. Emmanuel Jaclot, Executive Vice President und Leiter der Infrastruktur bei CDPQ, hob die entscheidende Rolle von First Hydro bei der Verwaltung des nationalen Stromsystems des Vereinigten K枚nigreichs und der Erf眉llung der Netto-Null-Verpflichtungen hervor. Der finanzielle Abschluss wird bis Ende 2024 erwartet, vorbehaltlich der 眉blichen Bedingungen und Genehmigungen.
- Acquisition of a 25% stake in a critical national infrastructure
- First Hydro represents 76% of UK's total pumped hydro storage capacity
- Over 2,000 MW capacity, important for grid flexibility and stability
- Partnership with Engie, a world leader in the energy sector
- Supports UK's net zero commitment through renewable electricity and storage
- None.
Insights
This acquisition by CDPQ of a 25% stake in First Hydro Company from Brookfield is a significant move in the UK's energy infrastructure sector. First Hydro's 2,000 MW capacity, representing
For Brookfield (BAM), this deal likely represents a strategic divestment, potentially allowing them to reallocate capital to other growth opportunities or optimize their portfolio. While the financial terms aren't disclosed, such infrastructure assets typically command premium valuations due to their strategic importance and stable cash flows.
Investors should note that this transaction aligns with the global trend towards renewable energy and grid flexibility investments. It may signal Brookfield's shift in focus within the energy sector, possibly towards newer technologies or markets with higher growth potential. The impact on BAM's financials will depend on the sale price and how they utilize the proceeds, which will be important to watch in upcoming earnings reports.
The acquisition of a
First Hydro's facilities in Dinorwig and Ffestiniog are not just power generators; they act as massive batteries, storing excess energy during low demand and releasing it during peak times. This capability is important for maintaining grid stability and managing the variability of renewable energy sources.
For investors, this deal highlights the growing importance of energy storage in renewable-heavy grids. It may spark increased interest in similar assets and technologies. The transaction also underscores the attractiveness of established infrastructure to institutional investors seeking long-term, stable returns in the energy transition era.
- Investment in a critical national infrastructure providing
76% of theUnited Kingdom 's total pumped hydro storage capacity
惭翱狈罢搁脡础尝听补苍诲
Responsible for the management and operation of two power plants at Dinorwig and Ffestiniog in the Snowdonia region of
"First Hydro is playing a critical role in helping the
"We are pleased to have supported First Hydro throughout our ownership period including securing its long-term future through active management of the business. First Hydro will continue to provide considerable renewable power to the
Financial close is expected by end of 2024, subject to customary closing conditions and relevant consents and approval.
ABOUT CDPQ
At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pension and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2024, CDPQ's net assets totalled CAD聽452聽billion. For more information, visit , consult our or pages, or follow us on .
CDPQ is a registered trademark owned by Caisse de d茅p么t et placement du |
About Brookfield Asset Management
Brookfield Asset Management Ltd. (NYSE: BAM, TSX: BAM) is a leading global alternative asset manager with approximately
Brookfield operates Brookfield Renewable Partners (NYSE: BEP, TSX: BEP), one of the world's largest publicly traded platforms for renewable power and sustainable solutions. Our renewable power portfolio totals over 34,000 megawatts and our development pipeline stands at approximately 200,000 megawatts. Our portfolio of sustainable solutions assets includes our investments in Westinghouse (a leading global nuclear services business) and a utility and independent power producer with operations in the
For more information
CONRAD
Senior Director 鈥� International Media Relations
+ 1 514 847-5493
charrington@cdpq.com
JOHN HAMLIN
Manager 鈥� Communications
+44 743 605 4717
john.hamlin@brookfield.com
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FAQ
What percentage of First Hydro Company did CDPQ acquire from Brookfield (BAM)?
What is the significance of First Hydro Company in the UK energy market?
When is the financial close of CDPQ's acquisition of First Hydro Company expected?
How does First Hydro Company contribute to the UK's net zero commitment?
