CPP Investments commits 200m to French offshore wind projects – IPE Real Assets

Canada Pension Plan Investment Board (CPP Investments) is investing 200m in a French offshore wind farm project.

CPP Investments, via its European arm, is paying 80 for a 49% interest in the entity that holds Enbridges stake in the olien Maritime France project, Enbridges partnership with EDF Renewables.CPP Investments is expected to commit an additional 120m as the first project progresses through construction.

The partnership is developing three offshore wind farms in France with a planned total installed capacity of almost 1.5GW expected to become operational in phases between 2022 and 2024.

CPP Investments said it could make additional investments of more than 150m in the two additional offshore wind farms.

Bruce Hogg, managing director, head of power and renewables, CPP Investments, said: France has established renewables as a cornerstone of its long-term energy plan and this partnership with Enbridge represents significant opportunities to invest in, and develop, flagship offshore wind projects across France, alongside Frances premier energy company, EDF Renewables.

This investment will provide additional diversification to our existing portfolio of assets and deepen our access to future high-quality offshore wind development projects in Europe and Asia.

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CPP Investments commits 200m to French offshore wind projects - IPE Real Assets