The Environment Agency Pension Fund, part of the United Kingdom’s Local Government Pension Scheme, with participating employers including the Environment Agency, Natural Resources Wales and Shared Services Connected Limited, has committed £170 million ($213 million) to Greencoat Renewable Income, multiple media sources reported.
Greencoat Renewable Income is managed by Schroders Greencoat, the renewables and energy-transition infrastructure management subsidiary of Schroders Capital. The fund is investing in opportunities in renewable infrastructure, including in wind, solar, bioenergy assets and other energy-transition infrastructure.
Craig Martin, chief pensions officer, EAPF, said: “We have a longstanding target of achieving 17 percent AUM in climate solutions by 2025. This investment will help us achieve this and support the U.K.’s leveling-up agenda. We look forward to working with the team and our Brunel partner investors to scale U.K. renewables.”
