UK pension fund invests £10m in green projects


Renewable energy projects in the UK have received a £10 million boost in funding.
The Greater Manchester Pension Fund will make the investment through Albion Community Power (ACP).
ACP is a company which builds, owns and operates renewable energy projects across the UK.
Its latest project is a 499KW hydropower scheme located on the River Arkaig in Lochaber in the Scottish Highlands.
The £3.3 million scheme will generate around 2.3GWh of electricity per year – the equivalent of powering around 550 homes.
It will be constructed in conjunction with Green Highland Renewables and completion is expected in February 2016.
Volker Beckers, Chair of ACP, said: “We are delighted to welcome the Greater Manchester Pension Fund as a new investor in ACP.
“It is a clear reflection of the growing institutional demand for access to high-quality community-scale renewable energy projects as they have a proven track record of generating strong and stable returns for investors.”
The Green Investment Bank ploughed £50 million into ACP earlier this year.