The infrastructure investment joint venture set up by the Greater Manchester Pension Fund (GMPF) and the London Pensions Fund Authority (LPFA) has bought a joint share in a 49.9% stake in a Scottish wind farm from SSE.
The GMPF & LPFA Infrastructure LLP (GLIL) will co-own the South Lanarkshire wind farm with Greatcoat UK Wind, and under the agreement will invest £150 million. GMPF chair, Kieran Quinn, 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. We look forward to announcing our next investment as well as working towards attracting other LGPS funds to our joint venture.” LPFA chairman, Sir Merrick Cockell, said: “When we launched our partnership at the start of 2015 it was to build on our beliefs that by working together we could increase our involvement in projects that provide the right returns for our members and the wider social benefit of investing directly in UK infrastructure.”
The wind farm is the second largest UK onshore wind farm with 152 wind turbines and a combined generating capacity of approximately 350 megawatts.