Interconnector
Canada Pension Plan Investment Board (CPP Investments) and Elia Group, through its international development platform WindGrid, today announce the acquisition of Tarchon.
Tarchon is a subsea interconnector project between Germany and the UK, from Copenhagen Infrastructure V (managed by Copenhagen Infrastructure Partners).
CPP Investments, together with WindGrid, is making an investment to continue its commitment to developing European energy infrastructure while supporting Elia Group’s main regulated transmission operations.
The partnership reflects the continued evolution of a trusted and well-established collaboration between CPP Investments and Elia Group, built on a strong alignment of interests, complementary capabilities, and a shared long-term perspective.
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 GW high-voltage direct current (HVDC) link between the United Kingdom and Germany, which will strengthen cross-border electricity flows, enhance security of supply, and enable the efficient integration of renewable energy across markets, supporting the long-term decarbonisation of both systems.
As a regulated asset, the project is progressing through the relevant regulatory approvals process in the UK and Germany.
CPP Investments will provide a C$1 billion commitment for a majority stake in the project. Elia Group’s investment through WindGrid is structured as a minority participation, representing a 25% look through stake, and remains limited in scale relative to Elia Group’s overall investment programme, consistent with its disciplined financial policy.
The transaction is expected to be completed by the end of 2026, subject to regulatory and closing conditions.
