Canada Pension Plan Investment Board (CPP Investments) has appointed Reventus Power, a UK- based company as its dedicated global offshore wind platform in a bid to expand its offshore wind presence in Europe.
Following the appointment, Reventus Power will be growing its teams in the UK, Germany, Poland and Portugal, to form a team of approximately 50 offshore wind specialists. This would double the size of its existing team, under the leadership of newly appointed CEO Michael van der Heijden who joined the firm at the beginning of April from Maple Power.
CPP Investments manages C$590.8 in assets of which some C$32.9bn in renewable energy through CPP Investments’ Sustainable Energies Group. The pension fund has currently some C$1bn invested in offshore wind.
“Offshore wind is a vital renewable energy source and one that is evolving rapidly. Long-term, scale and flexible capital is needed to ensure the infrastructure that is required to harness this energy can be built at pace” commented Bill Rogers, managing director and global head of of Sustainable Energies at CPP Investments.
”CPP Investments will benefit from the enhanced capabilities of Reventus Power to support our ambition to grow our offshore wind portfolio, where we see considerable potential” Rogers added.
Reventus Power was established in 2021 with the backing of CPP as an offshore wind centre with the aim of providing dedicated expertise to CPP Investments’ global offshore wind projects.
