Canada Pension Plan Investment Board (CPP Investments) has appointed Bruce Hogg to lead a newly created sustainable energy investment arm.

CPP Investments has combined its energy and resources investment division with its power and renewables business to create the C$18bn (€12.1bn) Sustainable Energy Group (SEG) led by Hogg as managing director.

Hogg, who joined 14 years ago, was most recently managing director and head of the pension fund’s power and renewables business.

Avik Dey, managing director and head of energy and resources at CPP Investments, will act as senior advisor to CPP Investments, supporting SEG and the office of the CEO over the next six months, following which he has decided to return to his entrepreneurial roots.

“The creation of the Sustainable Energy Group with significant, flexible capital positions us extremely well to pursue the best market opportunities across the entire energy spectrum. This, coupled with a deep, highly experienced team, will allow SEG to generate significant long-term value for the Fund,” Hogg said.

Deborah Orida, senior managing director and head of real assets at CPP Investments, said: “The energy sector is one of the most important enablers of the global economy and is composed of a wide spectrum of suppliers from conventional to renewable.

“Along our unique investment horizon, we see a dramatic opportunity to invest in, and support, the evolution and innovation occurring across the sector.”

In December last year, CPP Investments established Renewable Power Capital (RPC), a European renewable energy platform based in the UK, and appointed Bob Psaradellis to act as CEO of RPC.

At the time, CPP Investments, which manages the C$476bn funds of the Canada Pension Plan, said RPC will be funded by the C$9.1bn power and renewables investment strategy.

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