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YOUR Independent Community Newspaper
Vol. 7 Edition 46
CPP purchases turbine company By Mary Beth Corcoran mary@chathamvoice.com
The Canada Pension Plan Investment Board (CPPIB) announced recently its plan to buy Pattern Energy and Pattern Energy Development in a deal worth $6.1 billion. This just days after a representative from the provincial Ministry of the Attorney General had Environmental Protection Act charges withdrawn against Pattern Energy, two other wind farm companies, as well as the Minister and Ministry of the Environment. CPPIB is a professional investment management organization that invests the funds not needed by the Canada Pension Plan (CPP) to pay current benefits in the best interests of 20 million contributors and beneficiaries. According to a statement by CPPIB, in order to build diversified portfolios of assets, CPPIB invests in public equities, private equities,
real estate, infrastructure and fixed income instruments. Headquartered in Toronto, CPPIB is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. As of June 30, the CPP fund totaled more than 400 billion. Locally, Pattern Energy is co-owner with Samsung Energy of the South and North Kent Wind Farm projects in Chatham-Kent. On Oct. 30, just a week before the CPPIB purchase announcement, the EPA charges against Pattern Energy, Samsung, Engie Canada, the Ontario Ministry of the Environment and Environment Minister Jeff Yurek were withdrawn by the Ontario Attorney General, before any testimony or evidence in the matter could be heard before the Provincial Offences Court. Continued on page 2
THURSDAY, NOVEMBER 21, 2019
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Fun times on parade in Chatham
Sarah Schofield/The Chatham Voice
Children enjoyed the annual Chatham Santa Claus Parade on Friday evening through the downtown core, either as spectators or as smiling and waving participants. Local businesses, groups and organizations creatively decorated vehicles and created floats for the procession.