MONTREAL – Hydro-Quebec says it is in talks with the Caisse de depot et placement and other partners about possible acquisitions abroad.
The utility’s president, Eric Martel, indicated a few weeks ago Hydro-Quebec had set up a division to look into acquisitions and had a team dedicated to targeting the purchase of foreign-based energy companies.
Martel said today he has held discussions with the Caisse de depot and other financial partners. He did not want to elaborate.
He was speaking as Hydro-Quebec released its financial results for 2015, a year in which it posted net income of $3.1 billion.
It was the second straight year the utility had topped the $3-billion mark.
Martel sought to temper expectations for the future, saying the last few years were exceptional and cannot be repeated eternally.