The Canada Pension Plan Investment Board (CPP Investments) has revealed its plans for Reventus Power, a wholly-owned portfolio company based in the U.K., to serve as its exclusive global offshore wind platform. In this strategic move, CPP Investments will integrate its current direct and indirect offshore wind investments into Reventus Power, leveraging its established global presence and capitalizing on the substantial growth prospects within the sector.

To facilitate this expansion, Reventus Power intends to bolster its workforce across key locations including the U.K., Germany, Poland, and Portugal, with the aim of assembling a specialized team of approximately 50 offshore wind experts. These efforts are contingent upon customary approvals.

“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,” added Bill Rogers, Managing Director, Global Head of Sustainable Energies, CPP Investments. “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.”

With the backing of CPP Investments, Reventus Power was founded in 2021 as a leading hub for offshore wind excellence, offering specialized knowledge to CPP Investments' worldwide offshore wind initiatives, including its expansion into the U.S. offshore wind sector. CPP Investments presently holds a portfolio exceeding C$1 billion in offshore wind ventures. Reventus Power remains committed to procuring new offshore wind projects by harnessing its established expertise, prioritizing markets with favorable decarbonization goals, and collaborating with top-tier offshore wind partners and developers.

“CPP Investments and the experienced team at Reventus Power, are well positioned as an investor and partner of choice in offshore wind,” said Mr. Rogers. “As the world looks to generate more renewable power, Reventus Power’s deep sector expertise, supported by partnerships with leading industry players, will help accelerate the development of offshore wind, while generating strong risk-adjusted returns for the CPP Fund.”

The Sustainable Energies division of CPP Investments focuses on investments in renewable and traditional energy, carbon capture, distributed energy, and emerging technologies. This division merges extensive sector knowledge with CPP Investments' global presence and its capacity to deploy long-term, sizable, and adaptable capital. As of December 31, 2023, the net assets of the Sustainable Energies division amounted to C$32.9 billion, representing 25% of the total assets under management.