Edify Energy, a renewable energy and battery storage company, entered into a binding agreement to be acquired by global investment group La Caisse (formerly CDPQ).
Once completed, the transaction, together with further equity capital funding, is expected to represent an investment of approximately A$1.1 billion (~$725 million).
The investment will fund the acquisition of Edify and will also provide equity to finance two ready-to-build integrated solar and battery energy storage system hybrid projects totaling 900 MW/3,600 MWh for offtake partners, Rio Tinto and the Commonwealth of Australia. It will also support the company’s pipeline of hybrid and battery storage projects, exceeding 11 GW.
Edify has stated that it has developed and financed over 1 GW of utility-scale solar projects and battery energy storage systems. In addition to projects currently under construction, it manages the operations of six solar projects and five battery energy storage systems that it has developed, financed, and constructed.
“Our acquisition of Edify highlights the track record and expertise of its team and a commitment to Australia’s clean energy future,” said Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure and Sustainability at La Caisse. “With our long-term capital and sustainability expertise, Edify will accelerate the delivery of large-scale renewable and storage projects that strengthen the grid and advance decarbonization.”
La Caisse was advised by ICA Partners and Clifford Chance as its financial advisor and legal advisor, while Edify was advised by Lazard Australia and Herbert Smith Freehills Kramer as its financial advisor and legal advisor.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, there were 50 solar M&A transactions in the first half of 2025, compared to 40 during the same period in 2024.
In September, Climate-focused investment firm Wollemi Energy Group, part of Wollemi Capital, completed the acquisition of substantially all of MPower’s business, an Australian developer of renewable energy and battery storage systems, for A$19 million (~$12.5 million).
