Canada Pension Plan Investment Board (CPP Investments) has committed a further €260m to Renewable Power Capital (RPC), to support it investment strategy.
The strategy includes investing in Swedish wind and Spanish solar projects.
RPC, which is CPP Investments’ UK-based onshore renewables platform, recently committed to acquiring the 146MW Klevberget wind farm in its first Swedish deal.
OX2 is building the wind farm under a construction and asset transfer agreement.
Once commissioned, OX2 will be responsible for the technical and commercial management of the wind farm.
CPP managing director Bruce Hogg said: “RPC has significantly expanded its footprint across European renewables with this entry into the Swedish market.
“We continue to support the business with additional long-term capital to invest in attractive renewables opportunities across our target markets.”
RPC is partnering with OX2, delivering additional energy capacity which will compete without subsidies in the Nordic region.
The deal builds on the ongoing relationship between RPC and OX2.
In 2021, RPC acquired a 171MW portfolio of Finnish onshore wind projects from OX2.
RPC was launched by CPP Investments in December 2020.