Council pensions invest £150m into UK windfarm
A joint venture set up between two local government pension schemes is to invest £150m into a South Lanarkshire windfarm.
The infrastructure investment joint venture between Greater Manchester Pension Fund (GMPF) and London Pensions Fund Authority (LPFA) has agreed to purchase 49.9% of Clyde, one of the largest windfarms in Europe.
Councillor Kieran Quinn, Chair of Greater Manchester Pension Fund, said: 'We're pleased to announce the next investment for GLIL, which continues to identify UK projects with attractive returns and adds to our growing renewable portfolio.
'Our success in this area is a testament to what we are trying to achieve across the Local Government Pension Scheme, which is closer collaboration between funds in order to realise the benefits associated with partnering.'
The joint venture is hoping to attract other LGPS funds to join the partnership going forward.