Octopus Renewables has locked in a long-term £185 million ($242 million) mandate from the National Grid UK Pension Scheme (NGUKPS) to invest in solar and onshore wind assets in the United Kingdom, a number of news sources have reported.
The fund will be known as Renewable Energy Income Partnership (REIP) III and is Octopus’ third institutional mandate that has closed in renewable energy and infrastructure in two years, according to Business Green.
The 25-year mandate has an “attractive pipeline of opportunities and proven origination capability,” sources say.
Octopus Renewables, the renewable arm of Octopus Group, has more than 3.2 billion pounds of energy assets under management.
