The Canada Pension Plan Investment Board (CPPIB) will invest US$200 million in Noble Environmental Power, a Connecticut-based wind energy development and energy operating company.
With windparks under development in several states, Noble has plans to bring 282 megawatts of wind power generation online in New York State this year.
It also has several thousand additional megawatts under development and estimated to come online between 2008 and 2012.
“This is an important investment for the CPP Investment Board as demand for renewable energy, particularly wind generation, is expected to grow rapidly over the next several years,” says Mark Wiseman, the CPPIB’s senior vice-president, private market investments.
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While this is not the first energy company the CPPIB has invested in, does mark the first time the organization has invested in wind power.
Other energy companies in the CPPIB’s portfolio include Transelec, a Chilean power transmission company, and Puget Sound Energy, and integrated utility company based in Washington State.
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