Edify Energy, one of Australia’s leading renewable energy and battery storage developers, is set to be acquired by global investment group La Caisse (formerly CDPQ) in a transaction valued at around CAD 1 billion (USD 723.9 million).
The agreement will see La Caisse provide capital not only to acquire Edify but also to finance two integrated solar and battery energy storage system (BESS) hybrid projects with a combined capacity of 900 MW / 3,600 MWh. These projects will supply offtake partners including Rio Tinto and the Commonwealth of Australia. The funding will also support Edify’s pipeline of more than 11 GW of hybrid and storage developments across the country.
Founded in 2015 by John Cole, Edify has established itself as a pioneer in Australia’s clean energy transition, delivering the nation’s first utility-scale solar and battery storage project in 2018. Since then, it has completed 11 projects across New South Wales, Queensland and Victoria, with more than 1.1 GW of capacity in operation. By integrating solar with advanced storage solutions, the company has enhanced grid reliability while scaling renewable power generation.
“This agreement with La Caisse is a pivotal moment for Edify, providing balance sheet strength to ramp up the execution of firm, dispatchable green generation,” said John Cole, Founder and Executive Chairman. “In La Caisse, we have found the perfect owner to supercharge the business and take Edify’s market position to the next level.”
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse, said: “Our acquisition of Edify highlights the track record and expertise of its team and reflects our strong conviction in the critical role renewables and storage will play in the global energy transition.”
The deal remains subject to change-of-control and regulatory approvals. La Caisse was advised by ICA Partners and Clifford Chance, while Edify received advice from Lazard Australia and Herbert Smith Freehills Kramer.
