Chris West, head of timberland, infrastructure and indirect property at UK-based investor, the Church Commissioners for England, has said it is diversifying into climate infrastructure projects across western Europe.
Plenty of real estate investment managers are ramping up activities in areas such a windfarms and solar panels, and demand is only expected to further grow for renewables due to an energy crisis exacerbated by the conflict in Ukraine.
Church Commissioners said it had sided with an infrastructure player for a €30 mln investment. It said it had made the investment into a maiden fund managed by Pioneer Infrastructure Partners.
Said West: 'This investment marks the Church Commissioners’ continued diversification into climate infrastructure projects across western Europe, and consolidates our commitment to environmental stewardship by providing a platform to support European net zero targets.'
Pioneer’s fund that is has committed to has closed on €575 mln of equity and runs for 10 years focused on infrastructure investments that support the energy transition and the circular economy. Other investors include Texas Municipal Retirement Systems and European Investment Fund.
The fund is targeting a diverse portfolio of up to 10 investments and has already completed two acquisitions to date - a biogas developer and operator in Ireland with Stream Bioenergy, and Altano Energy, a diversified renewables platform in Spain.
The investor said climate-related infrastructure was one of the fastest growing infrastructure sectors and had proven a successful hedge against external crises, due to its low cost profile, long-term contracts and high consumer demand.
