CPP Investments puts further EUR 260m into renewables platform RPC

The Brannliden wind farm in Sweden. Image by: OX2.

March 1 (Renewables Now) - Canada Pension Plan Investment Board (CPP Investments) on Tuesday said it has committed another EUR 260 million (USD 291.2m) to Renewable Power Capital Ltd (RPC), the London-based platform it launched in 2020 to invest in solar, onshore wind and energy storage in Europe.

The funds will support the platform’s investment strategy, including recent deals -- an onshore wind acquisition in Sweden and recent investments in Spanish solar projects.

As announced last week, RPC is expanding into the Swedish market via the purchase of the 146-MW Klevberget onshore wind project in the country from Swedish renewables developer OX2, which will build the wind farm and manage it after completion. The deal is worth SEK 2 billion (USD 211m/EUR 189m) and adds to the acquisition of a 171-MW Finnish portfolio of three onshore wind farm projects from the developer in early 2021.

“We continue to support the business with additional long-term capital to invest in attractive renewables opportunities across our target markets,” said Bruce Hogg, managing director, head of Sustainable Energies, at CPP Investments.

(EUR 1 = USD 1.120)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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