Welsh local government pension scheme Clwyd Pension Fund is investing in clean-energy infrastructure through a newly created separate account partnership with Capital Dynamics.
Asset manager Capital Dynamics said the partnership with Clwyd will deliver new green-energy investment in Wales and will contribute towards Wales’s ultimate vision to source 100% of its energy needs from renewable sources.
It will also bring local ownership to new infrastructure, retaining economic and social benefits in Wales.
The amount of capital being committed by the pension fund to the separate account is currently unknown.
Philip Latham, the head of Clwyd Pension Fund, said: “This new venture with a long-term trusted partner enables the fund to make a positive social and environmental impact in Wales which will benefit our members and employers, whilst still achieving an appropriate investment return.”
Barney Coles, co-head of the clean-energy arm of Capital Dynamics, said: “We are delighted to support Clwyd Pension Fund on their mission to facilitate locally-owned clean-energy infrastructure and support Wales’s drive towards net zero.
Coles said the recent commitments from the Welsh government to accelerate the roll-out of new renewable-energy capacity has made Wales one of the most attractive markets in Europe for clean-energy investment.
“Clwyd Pension Fund has been investing with Capital Dynamics for more than 28 years, and we look forward to continuing to work with them on this exciting new project,” Coles said.
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