In brief: CPP commits additional £300m to Octopus Energy

The pension fund took part in Octopus's $800m funding round alongside Generation Asset Management.

CPP Investments, the C$591 billion (€407 billion; $483 billion) pension fund, has invested an additional £300 million (€351 million; $378 million) into British renewable energy company Octopus Energy, according to the pension fund’s latest quarterly report.

Octopus Energy was launched in 2015 with the backing of fund manager Octopus Group. Its operations span technology, renewable energy generation and energy retail. CPP first invested in Octopus in 2021, when it provided $300 million to support the company’s efforts to scale its green energy production.

CPP’s latest investment formed part of an $800 million funding round that took place in December, which valued the company at $7.8 billion. Sustainable fund manager Generation Investment Management also took part in the funding round, having first invested $600 million in exchange for a stake of up to 13 percent in 2021.