Fondaction has invested $8 million to establish Éolectric Capital, a joint venture with Éolectric focused on renewable energy project development and acquisition.

Target Information

Fondaction has announced an investment of $8 million aimed at establishing a joint venture named Éolectric Capital (ÉOCAP) in collaboration with Éolectric. This new entity will focus on the development and acquisition of renewable energy projects. Éolectric's extensive experience in the renewable energy sector aligns well with Fondaction's mission to promote sustainable development.

Founded in 2001, Éolectric is recognized as a developer, owner, and operator of renewable energy projects and electricity generation facilities. The company has successfully developed, financed, and managed energy infrastructure projects totaling over 800 MW, primarily through competitive bidding processes for major electricity providers both nationally and internationally. Currently, Éolectric manages over $500 million in assets for various investor groups.

Industry Overview in Canada

The renewable energy sector in Canada has been gaining significant momentum in recent years, driven by governmental policies aimed at reducing greenhouse gas emissions. The Can