South West pension fund invests £230m in solar farms
A South West-based pension fund 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 South West.
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 located in Bristol, Bath, Devon, Gloucestershire, Oxfordshire and Wiltshire.
The deal involves Toucan Energy’s UK solar portfolio being majority acquired by Schroders Greencoat, the specialist renewables manager of Schroders Capital.
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.”
