Caisse de dépôt et placement du Québec (CDPQ) has announced a substantial increase in its majority interest in Énergir through the acquisition of Enbridge's 38.9% interest in Noverco Inc. by Trencap L.P.

Following this transaction led by CDPQ, Trencap will own 100% of Noverco, which owns 100% of Énergir. CDPQ currently owns 64.74% of Trencap, alongside minority limited partners, including the Fonds de solidarité FTQ. The value of the transaction is US$1.14 billion. 

Énergir is a diversified energy business, with half of its assets been 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. 

The acquisition of Enbridge's minority interest is conditional to customary regulatory approvals. The transaction is expected to close by early 2022.