Reventus Power expands global offshore wind team, sees ‘significant growth opportunities’

CPP Investments is to consolidate its existing direct and indirect offshore wind holdings into UK-based Reventus Power to build on the business’ existing global footprint and support what it described as the sector’s “significant growth opportunities.”

To support this expansion, Reventus Power will add significantly to its teams in the UK, Germany, Poland and Portugal, to form a team of approximately 50 offshore wind specialists. The company has also appointed a new chief executive.

CPP Investments managing director, global head of sustainable energies, Bill Rogers said, “Reventus Power is an important pillar of CPP Investments’ global energy strategy and its growth will help us expand our portfolio of green and transition assets. 

“CPP Investments will benefit from the enhanced capabilities of Reventus Power to support our ambition to grow our offshore wind portfolio, where we see considerable potential.

“Offshore wind is a vital renewable energy source and one that is evolving rapidly. Long-term, scale and flexible capital is needed to ensure the infrastructure that is required to harness this energy can be built at pace. 

“CPP Investments and the experienced team at Reventus Power are well-placed as an investor and partner of choice in offshore wind. As the world looks to generate more renewable power, Reventus Power’s deep sector expertise, supported by partnerships with leading industry players, will help accelerate the development of offshore wind, while generating strong risk-adjusted returns for the CPP Fund.”

Incoming Reventus Power chief executive Michael van der Heijden has an 18-year track record of offshore wind acquisition, financing and project development. He joins from Maple Power, the European offshore wind developer he has led since 2021.

Reventus Power chair Mark Hanafin said the company “has a tremendous opportunity to become a truly global force in offshore wind. Already active in core markets outside of Europe, the team now has the scale and market-positioning to pursue some of the sector’s most exciting growth opportunities in Europe, North America and Asia Pacific.”