CPP Investments launches a new renewable energy branch to advance its investment opportunities

Canadian Pension Plan Investment Board (CPP Investments) has unveiled a new unit that encompasses the firm’s expertise in green energy, conventional energy, new technology, as well as service solutions. The new branch, Sustainable Energy Group (SEG), will elevate CPP as a global energy investment leader. “SEG would provide the fund with attractive investment options, establishing CPP Investments as the world’s leading energy investor,” noted a press release by CPP.

SEG brings together the Energy and Resources (E&R) as well as Power & Renewables (P&R) groups and is going to have a combined asset amounting to 18 billion Canadian dollars. This investment will make SEG a highly competitive and flexible player in the large as well as dynamic global energy industry. About $15.1 trillion will be invested in creating new power capacity in the world before midcentury, according to Bloomberg New Energy Outlook 2020 report. SEG is ready to spearhead the new generation of clean energy projects and creating a sustainable energy market.

The new organization will thrive on combined expertise in carbon capture, conventional energy, emerging disruptive technology, and innovative technology and services. “The energy sector is one of the most important enablers of the global economy and comprises 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,” said Deborah Orida, Head of Real Assets at CPP Investments.

SEG will be headed by Bruce Hogg, who has worked at CPP for more than a decade. He previously served as the Managing Director and Head of Power and Renewables and brought over ten years of asset investing experience. “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,” said Hogg.

“This coupled with a deep, highly experienced team will allow SEG to generate significant long-term value for the Fund,” added Hogg. Former Head of Energy and Resources Avik Dey will serve as a senior advisor to the Canadian firm and supporting Hogg in running SEG over the next six months.

“On behalf of CPP Investments, I’d like to acknowledge Avik for his Energy & Resources team leadership. His vision played a key role in the creation of the Sustainable Energy Group, and we thank him for his significant contributions to the organization over the past seven years,” said Orida. SEG has a diverse portfolio comprised of renewable energy assets such as solar, wind, and hydroelectric plants. It also boasts of conventional energy, upstream oil and gas, carbon capture, as well as Liquefied Natural Gas (LNG).

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