Canada Pension Plan Investment Board (CPP Investments) will consolidate its existing direct and indirect offshore wind holdings into Reventus Power, its UK-based portfolio company, which will become its dedicated global offshore wind platform. <\/p>\n
Subject to customary approvals, the move will see Reventus Power growing its teams in the UK, Germany, Poland and Portugal to form a team of approximately 50 offshore wind specialists, according to CPP Investments, whose current exposure to offshore wind is more than CAD 1 billion (approximately EUR 678 million; USD 737 million). <\/p>\n
Reventus Power was established in 2021 as an offshore wind centre of excellence and has provided dedicated expertise to CPP Investments global offshore wind projects, including in its entry into the US offshore wind market, CPP Investments says. <\/p>\n
Reventus Power is an important pillar of CPP Investments global energy strategy, and its growth will help us expand our portfolio of green and transition assets. 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, said Bill Rogers, Managing Director, Global Head of Sustainable Energies, CPP Investments. <\/p>\n
CPP Investments holds stakes in several offshore wind projects through consortia and joint ventures, including four offshore wind farms in France: fixed-bottom Saint-Nazaire, Courseulles-sur-Mer, and Fcamp, and the Provence Grand Large floating wind project. <\/p>\n
In 2022, Maple Power, a 50:50 joint venture between Enbridge and CPP Investments,teamed up with Mainstream Renewable Power to jointly explore the possibility of bidding in the Celtic Sea Floating Offshore Wind Tender in the UK. <\/p>\n
Last year, in a consortium with Mainstream Renewable Power, AGL, and Direct Infrastructure, Reventus Power submitted a feasibility licence application for a 2.5 GW offshore wind development off the coast of Victoria, Australia. <\/p>\n
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Canadian Pension Fund to Consolidate Its Offshore Wind Holdings into UK-Based Reventus Power | Offshore Wind - Offshore WIND<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Canada Pension Plan Investment Board (CPP Investments) will consolidate its existing direct and indirect offshore wind holdings into Reventus Power, its UK-based portfolio company, which will become its dedicated global offshore wind platform. Subject to customary approvals, the move will see Reventus Power growing its teams in the UK, Germany, Poland and Portugal to form a team of approximately 50 offshore wind specialists, according to CPP Investments, whose current exposure to offshore wind is more than CAD 1 billion (approximately EUR 678 million; USD 737 million) Continue reading