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The Caisse de dépôt et placement du Québec is investing $ 1 billion in an offshore wind farm off Taiwan.
With this investment, the Caisse and its Taiwanese partner, Cathay PE, will jointly acquire 50 per cent of the Grand Changhua 1 offshore wind farm, which will be located 35 to 60 kilometres off the coast of Taiwan.
The two companies will invest $3.4 billion to make this acquisition. A spokesperson for the Caisse, however, confirmed to Presse Canadienne on Monday that the Caisse’s participation in the agreement will be $1 billion.
The construction of the Grand Changhua 1 park is being carried out by Danish firm Orsted, which has already installed more than 1,500 offshore wind turbines around the world.
“This investment in Taiwan, which represents an attractive market for the Caisse, allows us to further diversify our presence in Asia,” first vice-president and head of infrastructure at the Caisse, Emmanuel Jaclot, said in a statement.
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