The Canada Pension Plan Investment Board is expanding the role of its wholly owned subsidiary Reventus Power as its dedicated global offshore wind platform.

The investment organization will consolidate its existing direct and indirect offshore wind holdings into Reventus Power to build on the business’ existing global footprint and support the sector’s significant growth opportunities. To support this expansion, Reventus Power will be growing its teams in the U.K., Germany, Poland and Portugal, to form a team of roughly 50 offshore wind specialists.

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In a press release, Bill Rogers, managing director and global head of sustainable energies at the CPPIB, said the growth of Reventus Power will help the investment organization expand its portfolio of green and transition assets. The CPPIB’s sustainable energies group held $32.9 billion in net assets, roughly 25 per cent of total assets, as at Dec. 31, 2023.

“Offshore wind is a vital renewable energy source and one that is evolving rapidly,” he said. “Long-term, scale and flexible capital is needed to ensure the infrastructure that is required to harness this energy can be built at pace.”

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