Canada Pension Plan Investment Board (CPP Investments) has committed a further €260m to Renewable Power Capital (RPC), its European renewable energy platform, to help fund investments.
The new capital will help RPC fund an ongoing investment strategy, including the firm’s debut investment in Sweden and a recent investment in Spanish solar projects.
UK-based RPC, established by CPP Investments in December 2020, has recently agreed to buy the 146MW Klevberget onshore wind farm in Sweden being developed by OX2, CPP Investments said.
RPC is also partnering with OX2 on an additional project which will compete without subsidies in the Nordic region.
Bruce Hogg, managing director, head of sustainable energies at CPP Investments, 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.”
To read the latest edition of the latest IPE Real Assets magazine click here.