Pension funds to invest 拢230m in South West solar farms

A group of South West-based pension funds has invested £230m in solar farms across the region.

The investment is being made by six Local Government Pension Scheme (LGPS) funds - Avon, Cornwall, Devon, Gloucestershire, Oxfordshire and Wiltshire - through a fund called ‘Wessex Gardens Limited Partnership'. The fund is designed to deliver climate-friendly investments across the West of England.

The funding is part of a bigger £330m commitment by the group which is investing in 11 solar farms with a generating capacity of approximately 140MWp - equivalent to powering nearly 52,000 homes. The solar farms are based in Bristol, Bath, Devon, Gloucestershire, Oxfordshire and Wiltshire.

The transaction forms part of the largest operational solar deal ever agreed in the 海角视频.

The deal involves Toucan Energy’s 海角视频 solar portfolio being majority acquired by Schroders Greencoat, the specialist renewables manager of Schroders Capital. A significant portion of the Toucan portfolio is being acquired by the six LGPS schemes via Schroders Greencoat’s Wessex Gardens LP.

Councillor Shaun Stephenson-McGall, vice chair of the Avon Pension Fund Committee, said: "Climate change is a huge issue and we all must play our part in protecting our planet for future generations."

Councillor John Hart, leader of Devon County Council , said: "Our Investment and Pensions Fund Committee took the important decision to commit £60m to this new Local Impact Fund in order for it to help create jobs and improve renewable energy production across the South West. I am delighted that, as a result, there will be a large portfolio of existing solar farms across the region, including one in Dunkeswell.”

The local solar assets are spread across region and include:

海角视频

Oops.

Pension funds to invest 拢230m in South West solar farms