La Caisse to acquire Aussie RE company Edify Energy

This will represent an investment of $1.1b.

Global investment group La Caisse has signed agreements to acquire Australian renewable energy and battery storage company Edify Energy.

Once completed, the transaction, together with further equity capital funding, is expected to represent an investment of approximately $1.1b.

This investment will fund the acquisition of Edify and provide equity to finance two ready-to-build integrated solar and battery energy storage system hybrid projects totaling 900 megawatts/ 3,600 megawatt-hours for offtake partners, Rio Tinto and the Commonwealth of Australia. It will also support the company’s significant pipeline of hybrid and battery storage projects of more than 11 GW.

Since its founding in 2015, Edify has delivered 11 projects across New South Wales, Queensland, and Victoria, totaling more than 1.1 gigawatts of capacity. It also delivered the country’s first utility-scale solar and battery storage project in 2018.

Some elements of the transaction are subject to customary change-of-control and regulatory approvals.