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Cross Border News  + Canada + Ontario  + Finance  | 
The Canada Pension Plan Investment Board has increased its ownership stake in U.K.-based Octopus Energy Group.

CPPIB Commits Additional C$511M to Octopus

The Canada Pension Plan Investment Board has increased its ownership stake in U.K.-based Octopus Energy Group through an additional C$511-million (£300 million) investment.

The move is expected to have wide-ranging commercial real estate investment implications in numerous countries. In a news release, CPPIB said it made the investment while co-leading a funding round.

London-based Octopus said in a separate news release that it raised a total of US$800 million (£625m). Other investors include Australian, Japanese and British giants Origin Energy, Tokyo Gas and Generation Investment Management.

Toronto-based CPPIB said its investment will support Octopus’ continued global growth, primarily through the deployment of the firm’s Kraken technology platform, and the furthering of renewable energy, heat pump and electric-vehicle offerings.

The EV offerings include a 400,000-public-charging-station network across the U.K. and Europe in partnership with French automaker Peugeot. Octopus also owns an EV leasing firm, among other assets that include wind and solar farms in 16 countries.

Bill Rogers, CPPIB’s head of sustainable energies, said the investment will deliver attractive long-term, risk-adjusted returns.


Inside The Story

Bill RogersCanada Pension Plan Investment Board

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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