The Caisse de dépôt et placement du Québec will buy the Quebec-based company’s outstanding shares for $13.75 apiece, marking a 58 per cent premium to its stock value before the deal was announced. The equity portion of the transaction is worth about $2.8 billion, while the Caisse will also assume the remainder of Innergex’s debt, bringing the total deal value to $10 billion. (The Logic)

Talking point: The Quebec pension fund’s rare decision to take the reins of a major renewable developer underscores the struggles clean energy developers face. U.S. President Donald Trump’s threats to remove renewables subsidies in the country has amplified other challenges like rising costs, in turn causing stock prices across the industry to plummet. The Caisse will provide patience and “long-term perspective” to the company that private investors don’t currently possess, Innergex CEO Michel Letellier told the Canadian Press. Hydro-Québec, Innergex’s largest investor, approved Tuesday’s proposed deal, and will sell its stake in the company at a $214-million loss. Innergex shares shot up more than 50 per cent on Tuesday.