UK pension funds will take a stake in nine solar farms as part of a strategic partnership with Bluefield Solar, a fund focused on acquiring and managing solar energy assets.
GLIL is a partnership of UK pension funds, investing into core UK infrastructure, including Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund, West Yorkshire Pension Fund and Nest, and has a £3 billion portfolio of infrastructure assets.
Bluefield and GLIL have now signed Phase two of their long-term strategic partnership which covers the sale of a 50% stake in the 112MW portfolio of solar farms across southern and central England. The nine operating sites receive Renewables Obligation Certificates either at 1.4 ROCs (78MW) or 1.3 ROCs (34MW).
In Phase three of the partnership, announced in December 2023, iBluefield Solar and GLIL intend to commit capital to a selection of Bluefield’s development pipeline. They have identified around 17MW of Auction Round 4 Contracts for Difference development assets, which are expected to be grid connected within the next twelve months.