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Octopus gets GBP 185m for renewables with NG pension mandate

Wind turbines in UK. Author: Stephen Jones. License: Creative Commons. Attribution 2.0 Generic

January 13 (Renewables Now) - National Grid UK Pension Scheme (NGUKPS) has agreed a 25-year discretionary mandate with Octopus Renewables to invest GBP 185 million (USD 241m/EUR 216.8m) in solar and onshore wind projects in the UK.

The investments will be carried out through a new fund, dubbed Renewable Energy Income Partnership 3 (REIP 3). It will be the third fund in Octopus Renewables’ institutional investor income partnership strategy and Octopus’ third institutional mandate for renewable energy in just over two years, the clean energy investor said last week.

“With predictable income, diversification and sustainable investment all at the forefront of institutional investors’ minds, this commitment by NGUKPS shows that our Renewable Energy Income Partnership series continues to provide an attractive solution for investors,” said Alex Brierley, co-head of Octopus Renewables.

(GBP 1.0 = USD 1.303/EUR 1.172)

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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