Climate Action

Octopus secures £185m renewables mandate from National Grid UK Pension Scheme

Octopus Renewables has secured a £185 million clean energy mandate from the National Gird UK Pension Scheme.

  • 10 January 2020
  • Rachel Cooper

Octopus Renewables has secured a £185 million clean energy mandate from the National Gird UK Pension Scheme.

Octopus Renewables, the specialist clean energy investor and part of Octopus Group, has won a new UK corporate pension mandate with the National Grid UK Pension Scheme (NGUKPS), to invest £185m in UK solar and onshore wind assets.

The fund, named Renewable Energy Income Partnership III (REIP III), is the third fund in Octopus Renewables’ institutional investor income partnership strategy.

The partnership is Octopus’ third institutional mandate that it has closed in renewable energy infrastructure in just over two years.

Alex Brierley, Co-Head of Octopus Renewables, said: “We are delighted to embark on this long-term partnership with the National Grid UK Pension Scheme. With predictable income, diversification and sustainable investment all at the forefront of institutional investors’ minds, this commitment by NGUKPS shows that our Renewable Energy Income Partnership series continues to provide an attractive solution for investors.”

All three mandates are managed by Octopus Renewables, a team of over 80 professionals with extensive experience in originating and managing European and Australian renewable energy assets.

Deniz Sevincer, Co-Head of Institutional Funds at Octopus, said: “We recognise that each institutional fund mandate is unique. Our scale, experience and origination capability puts us in the unrivalled position to provide the flexibility needed to create a bespoke offering that matches the National Grid UK Pension Scheme’s objectives.”

Kilian Thevissen and Pravi Prakash from NGUKPS said: “We are pleased to have onboarded Octopus and look forward to working together on this important asset class.”

Since entering the renewables market in 2010, Octopus Renewables has grown to become the largest investor of solar power in Europe, as well as growing to become a leading investor in onshore wind.

Find out more about Octopus Renewables here