CPP Investments, the investment manager of the Canada Pension Plan, announced today the creation of the Sustainable Energy Group (SEG), a new investment group aimed at pursing opportunities arising from the emerging energy transition.
SEG is being formed through the combination of CPP Investments’ Energy & Resources (E&R) and Power & Renewables (P&R) groups, combining $18 billion in renewables, conventional energy and new technology and service solutions assets to position the company as a leading global energy investor.
According to CPP Investments, the new group is being launched as trillions of dollars are expected to be invested over the coming years in new power capacity, creating investment opportunities for SEG in numerous areas including renewable energy, conventional energy and carbon capture. The group will also pursue emerging and disruptive opportunities through its innovation and technology and services team.
Deborah Orida, Senior Managing Director and Head of Real Assets, 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. CPP Investments is exceptionally well placed to be among the winners, in part through our partnership model alongside companies willing to grasp the future and forge ahead.”
The Sustainable Energy Group (SEG) will be led by Managing Director Bruce Hogg. Hogg has been with CPP Investments for 14 years, most recently serving as Managing Director, Head of Power & Renewables, leading the team that built a power and renewables portfolio of more than $9 billion in three years.
“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.”