Eversheds Sutherland Advised La Caisse On Renewa Investment
Eversheds Sutherland advised La Caisse on its US$200 million equity commitment in Renewa to expand clean energy land financing solutions across the US.
Eversheds Sutherland Advises La Caisse on Renewa Investment
Eversheds Sutherland has advised global investment group La Caisse (formerly CDPQ) on its US$200 million primary equity commitment in Renewa, acquiring a stake in the business. Renewa is a fast-growing land-under-infrastructure company that provides long-term capital solutions to landowners and renewable energy project developers across the United States.
With La Caisse’s equity commitment and new debt commitments from other sources, Renewa has now secured total funding commitments of more than US$750 million since its inception in 2022.
As the global energy transition unfolds, Renewa is employing innovative land financing partnerships to meet the critical need for land suitable to support clean energy projects. Renewa owns one of the largest independent portfolios of land under renewable energy projects in North America, either owning the land or holding a ground lease under more than 140 major clean energy assets with total exposure to clean energy projects representing approximately 26 GW of renewable energy.
Renewa’s network has grown substantially since its acquisition by QIC-managed funds in 2022. It has expanded from supporting 16 renewable operators in four states to more than 75 operators across 30 states, including top-tier renewable energy developers and international independent power producers (IPPs). In doing so, Renewa has established a presence in every major US power market and entered key states including California, Arizona, Colorado, Illinois, Indiana, New York, Ohio, Virginia, and Nevada.
Eversheds Sutherland advised La Caisse with a team led by Corporate Partner Hill Jeffries and Real Estate Partner Victor Haley, with support from Real Estate Partners Patrick Spook and David Cone.
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