PensionDanmark to invest GBP153 million in UK wind farms
Danish pension fund PensionDanmark is poised to put in GBP153 million in six UK wind farms owned by Falk Renewables. The pension firm said the investment guarantees the company a 49% share in the Scotland and Wales sites as a result of the deal. This was according to a report published by Business Green.
The acquisition of the wind farm stake is expected to be approved early next year. This is the company's latest green energy investment as it targets steady and long-term returns. The wind farms in Scotland and Wales have enough combined capacity to generate power for 160,000 homes, the report stated.
In a statement, the Danish firm said it had poured in USD1.8 billion in infrastructure investments. The company expects to further invest USD1.44 billion in the same sector over the next four years, said the report.
Torben Möger Pedersen, PensionDanmark's chief executive officer (CEO), said of the investment, "Our investments in different types of infrastructure ensure our members an attractive and inflation-inked return for many years. The investment in the six UK wind farms is an important element in this strategy."
Institutional investors and pension funds are increasingly making green energy purchases. These firms are drawn by the predictable returns that state subsidies offer, Business Green reported.