Greencoat Capital launches new fund to invest in UK renewables

Wood-based biomass used as a raw material. Source: Andritz (www.andritz.com)

February 20 (Renewables Now) - UK asset management firm Greencoat Capital LLP earlier this week said it has launched a new closed-ended fund, Greencoat Renewable Income LP, with commitments of GBP 277 million (USD 357m/EUR 330m) already secured.

UK-based Brunel Capital Partners and SAUL Trustee Company are the first investors in the fund, which will support UK renewable power projects, including solar, wind, bioenergy and other green energy initiatives such as renewable heat.

Greencoat Renewable Income has already allocated about GBP 130 million to three projects. The fund holds a share of the Templeborough biomass facility in Rotherham, Yorkshire, England. The plant, which uses waste wood as biomass, has a capacity of around 40 MW and has been operational since 2018.

The fund also has a share of two big low-carbon greenhouses under construction. It has also invested in Greencoat Solar II LP, which has secured more than GBP 1 billion from investors.

(GBP 1.0 = USD 1.291/EUR 1.195)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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