GLIL Infrastructure and Bluefield Solar Income Fund have invested in new solar energy assets in the UK, marking the third investment for their strategic partnership created in 2023.
Through the joint venture, Lyceum Solar, GLIL has acquired a 75% stake in a 250MW portfolio of seven solar and storage projects across southern and central England, including one operational solar asset, one under-construction battery energy solar system (BESS) and four ready-to-build (RtB) solar opportunities.
All sites have grid connections, and several have secured contract-for-difference contracts. Financial details were not disclosed.
The deal increases the partnership’s platform to 626MW, creating one of the UK’s largest solar and battery portfolios.
GLIL’s strategic partnership with Bluefield Solar was formed in December 2023 when the two funds announced the acquisition of 58 operational UK projects. That deal saw GLIL invest £200m, and Bluefield Solar invest £20m in combined 247MW projects.
The second investment, announced in July 2024, saw GLIL and Bluefield Solar inject a further £141m.
Jing Zhao, deputy portfolio manager at GLIL Infrastructure, said: “Our partnership with Bluefield Solar is just one of the ways that we’re securing UK opportunities in infrastructure that will deliver stable, inflation-linked returns to our members, while also supporting economic growth and job creation.
“These assets also strongly align with our strategy to increase our exposure to development and construction opportunities, which allows us to really add value by leveraging our experience in operational energy.”
Neil Wood, partner at Bluefield Partners, the investment adviser to Bluefield Solar, added: “In just 18 months, Bluefield, with GLIL, has built one of the premier solar and battery portfolios in the UK with an energy capacity of 626MW. This transaction underscores the growing role of renewables as core infrastructure assets in the UK.
“By combining long-term capital with Bluefield’s operational expertise, we are delivering scalable solar and storage projects that enhance grid resilience and support energy independence. For Bluefield Solar, this partnership reflects a commitment to disciplined growth, inflation-linked returns and capital deployment into assets that align with national priorities for decarbonisation, industrial productivity and energy security.”
GLIL, which was established in 2015, invests on behalf of local government pension schemes and pools, including Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund, and West Yorkshire Pension Fund, and Nest, the government-established workplace pension provider.
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