Innergex shareholders and executives discussing the proposed $10 billion buyout by CDPQ
In a significant move in the renewable energy sector, Innergex, a leading developer, owner, and operator of hydroelectric plants, wind farms, solar parks, and energy storage facilities, has signed a definitive agreement for its acquisition by CDPQ. The transaction, valued at $10 billion, was announced on February 25, 2025.
The comprehensive advisory team for this acquisition includes financial, legal, and strategic experts.
Financial Advisors
BMO Capital Markets and CIBC Capital Markets were the financial advisors to Innergex, providing valuable insights and guidance throughout the process.
Independent Financial Advisor
Greenhill & Co. Canada Ltd. served as the independent financial advisor to Innergex’s Special Committee, ensuring a fair and unbiased evaluation of the proposed deal.
Legal Counsel
McCarthy Tétrault LLP led the legal counsel team for Innergex. The team, headed by Patrick Boucher and Philippe Leclerc, consisted of specialists in various areas of law, including business, competition, tax, litigation, financial services, and technology. Notable members of the team include Laurence Cromp-Lapierre, Mireille Trottier, Richard O'Doherty, and several others.
Legal Counsel to the Special Committee
Norton Rose Fulbright Canada LLP provided legal counsel to Innergex’s Special Committee, offering expert advice during the rollover process.
Key Legal Specialists
The legal team from Hoskin & Harcourt S.E.N.C.R.L./s.r.l. was also involved in the rollover process of Innergex's shareholders and management. The team consisted of corporate, tax, and executive compensation specialists, including Niko Veilleux, Jean-Philippe Dionne, Julien Ranger-Musiol, Jean-Philippe Bertrand, and Manon Thivierge, each specializing in their respective fields.
CDPQ funded the transaction partly through a $1.2 billion senior financing led by TD Securities. This comprehensive advisory team provided financial, legal, and strategic support during the acquisition process completed in July 2025.
Innergex, with its commitment to sustainable energy production, continues to make strides in the renewable energy sector, and this acquisition marks a significant milestone in its growth and development.
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The financial advisors BMO Capital Markets and CIBC Capital Markets, as well as the independent financial advisor Greenhill & Co. Canada Ltd., provided valuable insights and guidance to Innergex during the acquisition process.
CDPQ funded a portion of the transaction through a senior financing led by TD Securities, demonstrating the comprehensive financial support that ensured the successful completion of the acquisition.
