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Canada Pension Plan Investment Board has formed a new company to boost its European investments in renewable energy.
Renewable Power Capital Ltd. says it will invest in solar, onshore wind and battery storage, among other things, and has a target investment size of $100-million to $500-million a deal. The new venture is designed to kick-start CPPIB’s renewable-energy investments in Europe, which have been largely limited to a 2019 joint venture with Enbridge Inc. called Maple Power to invest in offshore wind projects.