Investments from large corporate pension schemes have swelled Greencoat Capital’s total funding to more than £500million in less than 12 months.
Greencoat, who has nine renewables projects across Scotland, including Clyde, Langhope Rig and the Corriegarth windfarms, has interests in 21 solar farms across the UK.
Over two investment drives funding has reached a total of £560million for Greencoat Capital solar projects, with the most recent, Greencoat Solar II LP, bringing in £265million.
In September 2016 Greencoat announced through GreencoatSolar I LP investment of £295million.
As of August 2017, Solar I has spent £260million on solar projects ranging from 5 – 50MW in capacity.
Richard Nourse, Greencoat Capital managing partner, said: “Renewables are no longer on the periphery of UK pension fund asset allocations, they are becoming mainstream investments for major funds.
“Many secure income markets are starting to feel quite crowded but the opportunity for solar to deliver at a substantial premium remains attractive.”