CPP Investments Boosts Renewable Energy Sector with $1.2bn in 2023
CPP Investments, the investment arm of Canada Pension Plan Investment Board, has made significant strides in the renewable energy sector. In the last quarter of 2023, it invested $905m into Pattern Energy Group, supporting the company's development projects and future growth. This follows CPP Investments' acquisition of Pattern Energy in 2020 for $6.1bn.
Earlier in 2023, CPP Investments committed £300m to Octopus Energy, a UK-based renewable energy company. This investment aims to support Octopus Energy's initiatives in the renewable energy sector. Additionally, CPP Investments has shown commitment to other renewable energy projects. It invested US$75m in Altus Power, a commercial electric power provider, and allocated €118m in a forward-flow mezzanine loan facility for Enpal, a solar energy company.
CPP Investments has also been involved in transmission projects. It invested $83m in a holding debt facility for SunZia Transmission and SunZia Wind project, demonstrating its support for infrastructure development in the renewable energy sector.
CPP Investments' recent investments totaling over $1.2bn in the renewable energy sector reflect its commitment to supporting the growth and development of clean energy initiatives. These investments span across various aspects of the renewable energy industry, from power providers to solar energy companies and transmission projects.
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