Toronto, April 8, 2024 /CNW/ – Canada Pension Plan Investments (CPP Investments) today announced that Reventus Power, a wholly owned UK-based portfolio company, will become its dedicated global offshore wind power platform. CPP Investments intends to consolidate its existing direct and indirect offshore wind farm holdings into Reventus Power, building on the business's existing global footprint and supporting significant growth opportunities in the sector.
To support this expansion, Reventus Power is expanding its team in the UK. Germany, Poland and Portugal, will form a team of approximately 50 offshore wind experts. This requires customary approval.
“Reventus Power is a key pillar of CPP Investments’ global energy strategy and its growth will help expand our portfolio of green and transition assets. “We believe there is significant potential in the portfolio.” bill rogers, Managing Director and Global Head of Sustainable Energy, CPP Investments. “Offshore wind is an important renewable energy source and is evolving rapidly. We need long-term, large-scale and flexible capital to ensure we can reliably build the infrastructure needed to harness this energy. is required.”
Backed by CPP Investments, Reventus Power was established in 2021 as an offshore wind center of excellence, bringing dedicated expertise to CPP Investments' global offshore wind projects, including entry into the US offshore wind market. We have provided. CPP Investments' current offshore wind exposure is: 1 billion Canadian dollars. Reventus Power will continue to secure new offshore wind projects by leveraging its existing expertise, focusing on markets that support decarbonization goals, and collaborating with high-quality offshore wind partners and developers.
“The experienced teams at CPP Investments and Reventus Power are well positioned to be the investors and partners of choice in the offshore wind space,” added Rogers. “Leventus Power’s deep domain expertise, supported by partnerships with leading industry players, will help accelerate the development of offshore wind power as the world looks to generate more renewable electricity.” It will be useful and at the same time generate strong risk-adjusted returns for CPP funds.”
CPP Investments' Sustainable Energy Group pursues investments in renewable and conventional energy, carbon capture, distributed energy, and emerging technologies. The Sustainable Energies Group combines deep domain expertise with CPP Investments' global reach and long-term, scale-flexible capital.in December 31, 2023Sustainable Energy Group's portfolio had total net assets of C$32.9 billion, accounting for 25% of total assets.
About CPP investment
The Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages funds in the best interest of the more than 22 million Canada Pension Plan contributors and beneficiaries. Investments are made around the world in public and private equity, real estate, infrastructure, bonds, and more to build a diversified portfolio of assets.headquartered in Torontoset up an office in Hong Kong, London, Luxembourg, mumbai, new york city, San FranciscoSão Paulo, sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and independently of the government.in December 31, 2023total funds CAD 590.8 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram, or X. @CPPInvestments.
Source Canada Pension Plan Investment Board
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