An unnamed UK institutional investor has awarded Octopus Renewables a £150m (€175m) corporate pension mandate to invest in renewable energy infrastructure.
The mandate, which has been set up as the Renewable Energy Income Partnership IV (REIP IV) fund, will invest in a range of renewable assets, including solar and wind across the UK and Europe, helping to boost the UK’s transition to a net zero economy, the manager said.
Octopus Renewables declined a request to disclose details of the “large UK-based institutional investor” but the previous fund in the series was managed on behalf of the National Grid UK Pension Scheme.
Earlier this year, Octopus Renewables was also hired by Nest to help invest £250m of UK defined-contribution pension capital in clean-energy infrastructure.
Alex Brierley, co-head of Octopus Renewables, said: “We are committed to working together with institutions to support the global transition to a net-zero economy.”
Brierley said institutional investors have a key role to play by ensuring their capital is channelled toward assets that have a positive impact on climate.
Chris Hulatt, co-founder at Octopus Group said: “With predictable income, diversification and sustainable investment all at the forefront of institutional investors’ minds, renewable energy is an incredibly attractive asset class.
“To see institutional investors continuing to choose us as a partner is a fantastic validation of our strategy and we look forward to helping them achieve their investment goals.”
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