Greencoat acquired £262 million for »Solar II« fund

photonSeptember 21, 2017236

British renewable infrastructure investors Greencoat Capital LLP announced the first close of its »Greencoat Solar II LP« fund with £262 million ($354 million) raised from some of the UK's largest corporate pension schemes. Clients have now committed more than £560m to Greencoat's solar strategy, says the company.

»Solar II« follows the September 2016 close of »Greencoat Solar I LP«, a £295m segregated vehicle managed on behalf of a top tier corporate pension scheme. As of August 2017, Solar I had invested over £260m in a portfolio of 21 solar farms, ranging in size from 5 to 50 MW, with an aggregate capacity of over 200 MW.

Solar II is focused on the acquisition and management of a portfolio of mixed scale, ground mount solar PV in the UK. The vehicle aims to generate predictable cash flows with high inflation protection and low to no leverage, and intends to hold the assets for their full life.

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