Eversheds Sutherland Advises La Caisse on $200 million Investment in Renewa to Accelerate Funding of Land under Clean Energy Infrastructure

Eversheds Sutherland is pleased to have 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 as well as new debt commitments from other sources, Renewa has now secured total funding commitments of more than US$750 million since 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. The company either owns the land or holds 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 4 states to more than 75 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.

Read the full press release here.

Eversheds Sutherland acted as legal counsel, 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.