Dominic Browne 07 February 2013

Lancashire invests pension fund into solar cooperative

Lancashire County Pension Fund (LCPF) has invested £12m in one of the world’s largest community owned solar power stations, sited in Oxfordshire.

A £12m bond from the pension pot of Lancashire CC staff was used to refinance the debts of the Westmill Solar Cooperative today, supporting the generation of enough renewable electricity to power 1,400 homes a year.

Lancashire’s index-linked bond will be repaid over 24 years providing the solar cooperative with long-term finance and the LCPF with a low risk investment that helps to match their index linked pension fund liabilities.

Cllr David Westley, chair of Lancashire CC’s pension fund: ‘There has been a lot of discussion about local authority funds investing in community infrastructure. I’m pleased that Lancashire has been able to put this into practice with this £12m investment.

‘Our first responsibility is to secure the best returns for people in our pension fund, but I think many will be interested in knowing that their pension investments are helping fund worthwhile and sustainable schemes as this one.’

Built in 2011, the solar cooperative is an industrial and provident society that in Autumn 2012 raised almost £6m from a community share offer – 15% of its members come from within 7km of the site.

Members will receive a 10% annual return on their investment over the lifetime of the project, the cooperative claims. Energy from the farm is sold to the UK’s leading 100% renewable electricity supplier, Good Energy.

SIGN UP
For your free daily news bulletin
Highways jobs

Principal Transport Planner (Strategy)

North Northamptonshire Council
£46,731-£49,764
We are looking for an experienced professional to join North Northamptonshire Council as a Principal Transport Planner (Strategy). Sheerness House, 41 Meadow Road, Kettering moving to Haylock House, Kettering Parkway, Kettering NN15 6EY, United Kingdom
Recuriter: North Northamptonshire Council

Highways Capital Delivery Manager

South Wales Trunk Road Agent
£50,788 - £52,805
To be responsible for the implementation of Welsh Government’s Renewal and Upgrade programme. Baglan, Port Talbot
Recuriter: South Wales Trunk Road Agent

Senior Engineer x 2

Hounslow London Borough Council
£47,532 –£55,620 per annum
Our people are deeply committed to providing excellent services to our residents, doing all we can to make lives as good as they can be. Hounslow (City/Town), London (Greater)
Recuriter: Hounslow London Borough Council

Part Time Prison Library Assistant - HMP/YOI Chelmsford

Essex County Council
£25081.00 - £27653.00 per annum + Pro Rata
Part Time Prison Library Assistant - HMP/YOI ChelmsfordFixed Term, Part Time£25,081 to £27,653 Per Annum, Full Time EquivalentLocation
Recuriter: Essex County Council

Head of SEN Assessment & Resolution

The Royal Borough of Kensington & Chelsea Council
£77136 - £88230 per annum
Shape a fairer future for children with special educational needs.As Head of SEN Assessment and Resolution at the Royal Borough of Kensington and Chel England, London
Recuriter: The Royal Borough of Kensington & Chelsea Council
Linkedin Banner