Alpha Real Capital’s UK wind energy investment fund has received further capital from existing investors including the Towers Watson Secure Income Fund and Yorkshire & Clydesdale Bank Pension Scheme as well as capital from new investor Croda Pension Scheme.
The manager said the Wind Renewables Income Fund (WRIF), which mainly invests in sub-5MW onshore feed-in-tariff wind assets, has secured a further £80m (€93m) capital from investors.
WRIF currently has a fleet of 40 turbines and once fully invested will have deployed £180m.
Will Morgan, the head of renewables at Alpha Real Capital, said: “Following successful deployment of £100m across 14 transactions and 40 operating turbines since initial launch in June 2018, we are delighted to have retained these substantial commitments that will allow WRIF to capitalise on our immediate pipeline of exclusive opportunities within the UK’s addressable market of circa £2bn.”
Scott Gardner, partner investment capital at Alpha Real Capital, said: “The renewable energy sector continues to offer secure income and good relative value for investors, as they seek a cash flow match to their pension payment liabilities.
“The sector also provides significant ESG benefits for pension schemes on their journey to becoming carbon-neutral.”
Phillip Rose, Alpha Real Capital’s CEO, said following this latest renewables fund closing, Alpha will have around £700m committed to renewable energy infrastructure across the group, in wind, solar and hydro projects capable of powering close to 100,000 UK homes with clean energy.
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