Railpen, one of the largest pension managers in the United Kingdom, has acquired the 30-megawatt Bracks solar farm from BayWa r.e., expanding its foothold in the U.K. renewable-energy market. Financial terms were not disclosed.
Once constructed, the solar farm will generate clean energy to approximately 8,700 homes, contributing to the U.K. government’s goal of achieving net-zero emissions by 2050.
“Bracks is a great addition to Railpen’s renewable assets portfolio, alongside our existing onshore wind, biomass and energy storage investments,” said Alena Antonava, investment manager at Railpen. “Bracks, once constructed, will be delivering secure and stable income to our scheme members whilst supporting Railpen’s commitments to achieve net zero across its investment portfolio.”
This acquisition marks the second deal between Railpen and BayWa r.e., following the purchase of Scotland’s Tralorg Wind Farm in 2019.
