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March 2, 2022

CPP Investments to invest $288m in RPC’s investment strategy

RPC's investments include an onshore wind farm in Sweden and solar projects in Spain.

The Canada Pension Plan Investment Board (CPP Investments) has announced that it will invest an additional €260m ($288m) in its UK-based Renewable Power Capital (RPC) platform to support its growth strategy.

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CPP Investments established RPC in December 2020 for investing in solar, onshore wind and battery storage technologies among others across Europe.

The platform is backed by CPP Investments’ multi-billion Power and Renewables investment strategy.

CPP Investments’ additional capital infusion will be used to support RPC’s investment strategy, which includes an initial investment in an onshore wind farm in Sweden and several solar projects in Spain.

As part of its growth strategy, RPC recently agreed to acquire OX2’s Klevberget onshore wind farm in Västernorrland County, Sweden, under a construction and asset transfer agreement.

The 146MW wind facility has the capacity to generate enough clean energy to power nearly 46,000 households.

The deal will mark RPC’s entry into the Swedish renewable energy market.

Upon its completion, OX2 will provide technical and commercial management services for the wind farm.

CPP Investments managing director and Sustainable Energies head Bruce Hogg said: “RPC has significantly expanded its footprint across European renewables with this entry into the Swedish market.

“We continue to support the business with additional long-term capital to invest in attractive renewables opportunities across our target markets.”

The deal comes after RPC purchased a portfolio of onshore wind projects in Finland, with 171MW of total capacity, from OX2 last year.

RPC and OX2 have also partnered to deliver additional energy capacity in the Nordic region.

Based in Toronto, Canada, CPP Investments manages the Canada Pension Plan, which has more than 20 million contributors and beneficiaries.

Last December, the company agreed to make a $300m equity investment in Octopus Energy Group through its Sustainable Energies Group business.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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