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Canada Pension Plan Investment Board (CPP Investments) is setting up a new investment group that combines the organisation’s expertise in renewables, conventional energy and new technology and service solutions.
Sustainable Energy Group (SEG) will generate “compelling investment opportunities” for the fund, positioning CPP Investments as the leading global energy investor.
SEG will have approximately C$18bn in assets, making it “highly competitive and flexible” in the large and dynamic global energy sector.
According to the Bloomberg New Energy Outlook 2020 report, around $15.1tn is expected to be invested in new power capacity alone by 2050.
CPP Investments said SEG is well positioned to pursue a variety of opportunities in this, and the broader sustainable energy market, having combined expertise in conventional energy, renewable energy, carbon capture as well as emerging and disruptive opportunities through its innovation and technology and services team.
“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.
Bruce Hogg will lead SEG as managing director.
He joined CPP Investments 14 years ago, and during that time grew the Infrastructure team’s global business.
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