La Caisse, a Montréal-based investment group, has agreed to acquire Edify Energy, an Australian renewable and battery storage company. The agreement announced was valued at about CAD 1 billion (~$ 724.14 million). The investment included equity to fund two hybrid solar and storage projects totaling 900 MW / 3,600 MWh. These projects secured offtake agreements with Rio Tinto and the Commonwealth of Australia. Edify was founded in 2015 and has delivered 11 projects across New South Wales, Queensland, and Victoria, totaling over 1.1 GW. The company also has a pipeline exceeding 11 GW of hybrid and storage projects. Completion of the transaction is subject to regulatory approvals. La Caisse was advised by ICA Partners and Clifford Chance, while Edify engaged Lazard Australia and Herbert-Smith Freehills Kramer.