News release Énergir

CDPQ increases its stake in Énergir, making the company entirely Québec-owned

Infrastructure, Québec Montréal,

CDPQ increases its interest in Trencap L.P. alongside the Fonds de solidarité FTQ

Caisse de dépôt et placement du Québec (CDPQ), a global investment group, today announced a significant increase in its majority stake in limited partnership Trencap L.P., alongside the Fonds de solidarité FTQ. Through Noverco, Trencap is the sole owner of Énergir. 

Following this transaction, CDPQ holds 80.9% of Trencap shares, while the Fonds de solidarité FTQ maintains its 19.1% stake in the company, making Énergir a company that is now wholly owned by Québec investors. Today’s announcement follows an initial transaction of $1.14 billion made public in June 2021, through which Trencap became the sole owner of Noverco, which owns 100% of Énergir shares. 

With assets of over $9 billion and 535,000 customers across Québec and the northeastern United States, Énergir is a diversified energy business, with half of its assets now involved in the production and distribution of electricity and renewable energies and in providing energy services. The main distributor of natural gas in Québec, Énergir also produces electricity in the province from wind power through joint-venture companies. Through subsidiaries and other investments, Énergir is present in the United States, where it produces electricity from hydro, wind and solar sources, as well as being the sole distributor of natural gas in Vermont. 

“Investing in the growth of Québec companies is at the heart of CDPQ’s strategy, and our support of Énergir since a first investment in 2004 is a perfect example of this,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at CDPQ. “With the Fonds de solidarité FTQ, we are delighted to continue as a long-term shareholder in this innovative company as it works to diversify and decarbonize its activities, contributing to a greener North American economy.”

“Énergir is firmly focused on the energy transition, notably through renewable gas initiatives,” added Gilles Poulin, Vice-President, Investments, Aerospace, Infrastructure and Transportation at the Fonds de solidarité FTQ. “This transaction brings the ownership of Énergir entirely back to Québec while fostering the success of the company’s plan to reduce greenhouse gas through renewable energy and energy efficiency.”


At Caisse de dépôt et placement du Québec (CDPQ), we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public retirement and insurance plans, we work alongside our partners to build enterprises that drive performance and progress. We are active in the major financial markets, private equity, infrastructure, real estate and private debt. As at June 30, 2021, CDPQ’s net assets totalled CAD 390 billion. For more information, visit, follow us on Twitter or consult our Facebook or LinkedIn pages.


The Fonds de solidarité FTQ invests to build a better society by channelling the savings of its 734,580 shareholders into development and risk capital investments to help Québec transition to a green economy, to a human-centred world of work, and to a healthier society. The Fonds offers businesses unsecured financing and strategic support. With $18.3 billion in net assets as at November 30, 2021, the Fonds has supported more than 3,400 partner companies and over 247,000 jobs. 

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For more information

    Senior Advisor, Press relations
    Fonds de solidarité FTQ
    + 1 514 703-5587