Power Sustainable plans to invest more than $10 billion in Canadian infrastructure and companies over the next five years, with clean energy among the key areas of focus for the Montreal-based alternative asset manager.

Announced Thursday morning, the strategy is centred around the opportunities Power Sustainable is already developing or assessing in sectors such as clean energy and industrial private equity. Those investments include a project expected to be Canada’s largest battery storage asset when it reaches operations.

The $10 billion-plus that Power Sustainable intends to invest over five years includes capital deployed through its strategies, co-investment capital, and debt and third-party financing. The alternative asset manager intends to invest in partnership with financial institutions and by building partnerships with domestic and international investors.

"Canada represents one of the most compelling investment opportunities in the world today, and we believe this is a moment for private capital to act," Bruce Heyman, CEO of Power Sustainable, said.

Power Sustainable is a subsidiary of Power Corporation of Canada (POW-T), a Montreal-based international management and holding company focused on financial services in North America, Europe and Asia. As of Dec. 31, 2024, Power Sustainable had $4.2 billion in assets under management, while Power Corporation had consolidated assets and assets under administration worth $4 trillion as of Q2.

Sustainable Biz Canada has reached out to Power Sustainable for comment, but did not receive a reply by the time of publication.

Power Sustainable's investments

The announcement comes as Canada’s strained economic relationship with the U.S. puts a greater focus on domestic investment, while the federal government continues to prioritize infrastructure development. A key example of the latter is the Major Projects Office, which has been tasked with accelerating the development of energy infrastructure, mines and ports.

In May, the Global Infrastructure Investor Association ranked Canada as a top market for infrastructure investment.

Power Sustainable’s investments in clean energy emerge primarily from three strategies.

The first is its energy infrastructure equity. The company's Power Sustainable Energy Infrastructure (PSEI) owns a portfolio of wind, solar and battery storage in Canada and the U.S. through Toronto-based Potentia Renewables. That includes Skyview 2, expected to be Canada’s biggest battery energy storage project once complete with 411 megawatts of capacity. Another company in the PSEI portfolio is Nautilus Solar, a Chicago-based solar energy developer.

PSEI is advancing over a gigawatt of late-stage projects alongside a broader development pipeline, Power Sustainable said.

The second strategy is infrastructure credit. Through Power Sustainable Infrastructure Credit (PSIC), Power Sustainable offers financing for middle-market infrastructure in energy, digital connectivity, transport and logistics, utilities and environmental systems. An investment under the strategy includes Convertus' organics-to-biofuel facility in Ontario's York Region, which is designed to offset up to 132,000 tonnes of carbon dioxide per year.

The third is its focus on clean energy and industrial private equity. PSD, Power Sustainable's clean energy and industrial private equity strategy, invests in established Canadian mid-market businesses that provide specialized services, equipment and components for critical infrastructure in energy and industry.

"Canada is at a moment of major economic change – and, we believe, major opportunity," Olivier Desmarais, chairman of Power Sustainable, said in the release. "The country has the resources, talent and institutional strength to attract long-term capital at global scale.”