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Saturday, December 9, 2023

Accelerating the Energy Transition in Japan and Abroad】Natural Power Company raises 70 billion yen from CDPQ, a major pension fund in Canada!

CDPQ, a global investment group, has made its first direct infrastructure investment in Japan. With the aim of growing in Japan and key overseas markets, the agreed financing amount for FY2022 for Natural Power reached 74.4 billion yen with investments from JIC VGI, Sigmaxis Investment, and CDPQ.

Natural Power Company strengthens cooperation in renewable energy power source development and energy tech business

("Natural Power") and Canada's Caisse de dépôt et placement du Québec ("CDPQ"), a global investment group, have announced that they will invest 20 billion yen in Natural Power as a convertible bond with stock acquisition rights, fully subscribed by CDPQ. CDPQ has announced that it will invest ¥20 billion in Natural Power as a convertible bond fully subscribed by CDPQ. In addition, NEPCO and CDPQ have agreed on a joint investment framework under which CDPQ will invest 50 billion yen. In addition, in conjunction with this investment, Natural Power will accept one director from CDPQ.

In February of this year, Natural Power received investments totaling 4.4 billion yen from JIC Venture Growth Investments, Inc. ("JIC VGI") and Sigmaxy Investment Co. Together with these investments, the total agreed financing amount for Natural Power this fiscal year is 74.4 billion yen. In addition, Natural Power has already begun collaboration with Sigmaxyz Investment on business development in the new area of energy tech, and will continue to deepen collaboration with all partners to co-create growth businesses.

The investments by CDPQ, JIC VGI, and Sigmaxis Investment will enable Natural Power to further develop renewable energy power plants, strengthen its business related to energy tech, and further accelerate human capital formation.

Specifically, in Japan, we will continue to develop a variety of renewable energy power sources, including ground- and roof-mounted solar power, farm-based solar power, onshore and offshore wind power, small-scale hydroelectric power, and biomass power. In addition, we will conduct further research and development of energy management systems developed in-house to effectively utilize these renewable energy sources. Outside Japan, in Southeast Asia, Brazil, and elsewhere, we will accelerate on-site and off-site PPAs for global and local companies, and in the future we plan to work on large-scale solar and wind power generation projects in partnership with leading local companies.

Shizen Denryoku aims to accelerate the energy transition in Japan and overseas, particularly in Asia Pacific and Brazil, by providing technologies and solutions to achieve carbon neutrality for businesses and local governments, while revitalizing local communities.

*From left:
Shunichi Shibanuma, President of Sigmaxis Investment, Inc.
Satoshi Suenaga, Partner of JIC VGI
Emmanuel Jacqurot, Executive Vice President and Head of Infrastructure Business at CDPQ
Ken Isono, Kenji Kawato, and Masaya Hasegawa, Representative Directors of Natural Power

Comments from each company

From Emmanuel Jacqurot, Executive Vice President and Head of Infrastructure Business at CDPQ

This investment in Japan is an important milestone in the development of CDPQ's long-term infrastructure strategy for the Asia-Pacific region. Japan has an important role to play in the decarbonization of Asia, and as an investor with extensive experience in renewable energy, we are pleased to be working with the Renewable Power team to realize its ambitious plans and contribute positively to the energy transition."

From Satoshi Suenaga, Partner of JIC VGI

Shizen Denryoku is an innovative company that is working to develop diverse renewable energy sources in Japan, Southeast Asia, Brazil, and many other countries while leveraging the agility of a start-up company. We are proud to be able to contribute to the realization of a carbon neutral society, which is an urgent issue not only in Japan, but in the world as a whole, by accompanying the Natural Power team."

From Shunichi Shibanuma, President of Sigmaxis Investment, Inc.

The spread of renewable energy sources and distributed energy systems is an urgent issue that must be addressed on a global scale, and the energy transition that Natural Power aims to achieve is an important initiative toward the realization of a sustainable society. Through a business model that makes nature its ally, the more Natural Power's business expands, the easier the earth will become to live on. We sincerely look forward to working with NEPCO to build such a regenerative business role model through investment and business support."

From Ken Isono, Masaya Hasegawa and Kenji Kawato, Representative Directors of Natural Power

We are honored to partner with CDPQ, which has been moving toward sustainable management for decades and is currently investing in the realization of a decarbonized society from an ultra-long term perspective. We at Shizen Denryoku have been striving for a "blue planet for the future" as our raison d'etre, and we feel that more speed is required to solve global warming and energy issues. Through the collaboration with CDPQ, JIC VGI, and Sigmaxy Investment, with which we have signed a new agreement this year, we will accelerate our global actions for the future of our planet."

About Natural Power Company

Established in June 2011. Since 2016, we have been focusing on overseas business, developing and expanding power generation business mainly in Southeast Asia and Brazil.
In 2019, we will also enter the energy tech business, providing services such as micro-grid and VPP construction and smart charging and discharging services for EVs through our self-developed EMS (energy management system).
To date, the group has been involved in more than 1 gigawatt of renewable energy generation projects in Japan and abroad.

About CDPQ

At CDPQ, we invest constructively to generate sustainable returns over the long term. As a global investment group managing funds for public pensions and insurance plans, we work with our partners to build companies that drive performance and progress.
CDPQ is active in major financial markets, private equity, infrastructure, real estate, and private debt. as of June 30, 2022, CDPQ's net assets totaled C$391.6 billion.
For more information, visit cdpq.com, Twitter, Facebook or LinkedIn.
CDPQ is a registered trademark owned by Caisse de dépôt et placement du Québec and licensed to its subsidiaries.

About JIC Venture Growth Investments, Inc.

JIC Venture Growth Investments, Inc. was established in July 2020 as a venture capital arm of the Innovation Network Corporation of Japan (JIC) Group. Its mission is to promote innovation in Japan, improve international competitiveness, and solve industrial and social issues through venture growth investment activities. For more information, please visithttps://www.j-vgi.co.jp/ for more information.

About Sigmaxy Investment, Inc.

Sigmaxyz Investment, established in April 2021, is the investment firm responsible for the investment business of the Sigmaxyz Group. SIGMAXIS Investment is an investment company that supports value creation through strategic business investments such as venture investments and growth investments, and the establishment of joint ventures through collaboration with consulting services. We are promoting business operations that support value creation. (Head office: Minato-ku, Tokyo; President: Ryuichi Tomimura; Code: 6088 TSE Prime).

For more information, please contacthttps://www.sigmaxyz.com/sxi/ for more information.

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