Canada Pension Plan Investment Board (CPP Investments) is expanding its partnership with international electricity transmission group Elia Group, through its international development platform WindGrid, with the acquisition of Tarchon, a subsea interconnector project between Germany and the United Kingdom.
The partners are buying the project from Copenhagen Infrastructure Partners’ Copenhagen Infrastructure V fund. CPP Investments will commit C$1 billion ($721 million) for a majority stake in the project, and Elia Group’s investment through WindGrid represents a 25 percent minority stake participation.
At a time when the energy transition requires significant investment in grid infrastructure, projects such as the Tarchon interconnector will contribute to a more resilient and interconnected European power system. Tarchon will provide a 1.4-gigawatt high-voltage, direct current link between the United Kingdom and Germany that will strengthen cross-border electricity
