Clean Energy Task Assigned to Capital Dynamics by LGPS Investment Fund
The Clwyd Pension Fund, a UK Local Government Pension Scheme (LGPS) fund, has once again chosen Capital Dynamics as its manager for local renewable energy infrastructure investments. The renewed partnership will focus on new green energy projects in Wales.
According to recent reports, the Clwyd Pension Fund has committed £50 million to Capital Dynamics' Clywd Clean Energy Wales fund in the 2022/23 financial year. The investments made through this partnership will be structured as a separately managed account.
The renewed partnership aligns with the newly elected UK government's mission towards clean energy, as stated by Barney Coles, co-head of Capital Dynamics Clean Energy. The investments made through this partnership will adhere to the Welsh Government's National Development Framework.
The investments will be made under the Welsh Government's National Development Framework, which aims to support sustainable and inclusive growth in Wales. This framework provides a strategic approach to planning and infrastructure development, focusing on economic, social, and environmental well-being.
The Clwyd Pension Fund, with assets under management of approximately £2.5 billion, has a history of investing in renewable energy projects. Since 2010, Capital Dynamics has acquired a portfolio of 30 clean energy projects with a combined gross capacity of approximately 500 MW.
In addition to the partnership with Capital Dynamics, the Clwyd Pension Fund has invested in renewable infrastructure assets through other funds. One such investment includes a £17 million commitment to Copenhagen Infrastructure's Energy Transition Fund.
While specific details about the size of the new clean energy mandate from Clwyd Pension Fund have not been disclosed by Capital Dynamics, the renewed partnership underscores the fund's commitment to sustainable and clean energy investments. The investments made through this partnership are expected to contribute significantly to Wales's renewable energy landscape and its goal of becoming a net-zero carbon nation by 2050.
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