The Canada Pension Plan Investment Board (CPPIB), the investment management organization that invests Canada's national pension fund assets, has committed to invest $200 million in Noble Environmental Power, a Connecticut-based wind energy development and energy operating company that has wind projects under development in several states, including New York, Vermont, New Hampshire, Minnesota, Maine and Texas.
‘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, senior vice president of private market investments for CPPIB.
In related news, Walter Howard is joining Noble Environmental Power as CEO. The current CEO, Charles Hinckley, will become the company's executive chairman.
Howard previously worked with Noble Power Assets, a predecessor to Noble Environmental Power. He joins Noble from American Water, where he was senior vice president.