Canada Pension Board Invests In UK-Based Firm For Offshore Wind Energy

Canada Pension Board Invests In UK-Based Firm For Offshore Wind Energy

Canada Pension Plan Investment Board (CPPIB) has invested in UK-based Reventus Power to further its plans to establish the firm as a global player in the offshore wind sector. Consequently, Reventus Power has doubled the size of its global team to approximately 50 offshore wind specialists, increased its presence in the UK, Germany, Poland, and Portugal, and appointed a new Chief Executive Officer.

CPPIB has said that Reventus Power will be ‘dedicated global offshore wind platform. Reventus Power has invested in the development and long-term management of offshore wind projects globally. Partnering with high-quality developers, it is now developing projects and pursuing opportunities across Europe, North America, and Asia Pacific. The company is headquartered in London, now with offices in Hamburg and Warsaw. Mark Hanafin continues in his role as Chair.

Mark Hanafin, Chair at Reventus Power, said, “As the dedicated platform for CPP Investments’ offshore wind investments, Reventus Power has a tremendous opportunity to become a truly global force in offshore wind. Already active in core markets outside of Europe, the team now has the scale and market positioning to pursue some of the sector’s most exciting growth opportunities in Europe, North America, and Asia Pacific.”

Michael van der Heijden, Chief Executive Officer at Reventus Power, said, “I’m excited by the global remit and proven experience at Reventus Power. We are on a mission to continue growing the team with elite talent so that when we invest alongside strategic partners we bring deep in-house technical, financial, and commercial expertise to projects. We have a strong pipeline of projects in place, and some significant new partnerships to announce shortly, and look forward to establishing future ones in new locations over the coming years.”

Offshore wind power has flourished in several European and Amercian countries with its own inherent challenges. Globally works are now also on to develop floating offshore wind power. Countries like India has also started planning to develop offshore wind power.