CDPQ acquires 25% of UK's First Hydro Company from Brookfield
Brookfield Asset Management Inc Class A Limited Voting Shares (BAM)
US:NYSE Investor Relations:
bam.brookfield.com/en
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Source: PR Newswire
Investment in a critical national infrastructure providing 76% of the United Kingdom's total pumped hydro storage capacityMONTRÉAL and LONDON, Sept. 24, 2024 /PRNewswire/ - CDPQ, a global investment group, today announced it has entered into an agreement with Brookfield Asset Management (NYSE: BAM) (TSX: BAM) and its institutional partners, including its listed affiliate Brookfield Renewable (NYSE: BEP) (NYSE: BEPC) (TSX: BEP.UN) (TSX: BEPC) (together "Brookfield"), to acquire its 25% stake in First Hydro Company, a critical electricity generation and storage facility in the United Kingdom. Engie is the majority shareholder who owns the remaining 75% of the company.Responsible for the management and operation of two power plants at Dinorwig and Ffestiniog in the Snowdonia region of Wales, First Hydro offers a capacity of more than 2,000 MW, representing 76% of the total pumped hydro storage in the United Kingdom, making it a critical infrastructure to face the country's increasing nee
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