The Caisse de dépôt et placement du Québec (CDPQ) agreed to acquire seven power-transmission facilities in Brazil from Equatorial Group for approximately $1.3 billion.

Montreal-based CDPQ is making the acquisition through its Brazilian power subsidiary Verene Energia.

The acquired assets, which belong to Equatorial Transmissão S.A., span a total of 2,430 kilometres across four states in Brazil’s north, northeast and southeast regions. Commissioned between 2019 and 2021, the facilities will remain under concession until 2047.

The deal marks CDPQ’s fourth investment in Latin America’s power transmission sector since 2022 and further strengthens Verene’s position as a major player in Brazil’s electricity infrastructure, said the Quebec pension-fund manager.

“This new acquisition by our platform Verene shows the continued interest we have in investing in Brazil, a key market for us,” said Emmanuel Jaclot, CDPQ’s executive vice-president and head of infrastructure.

“It also reflects our appetite for its power- transmission sector, which offers a stable and predictable regulatory framework that is attractive to our clients. With over 4,000 kilometres of high-voltage lines in operation, Verene is gaining scale to play a role in meeting the decarbonization objectives for Brazil’s national grid.”

Financial closing is anticipated by December 2025, subject to customary conditions and regulatory approvals.

Photo: CDPQ

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