Border to Coast Pensions Partnership invests £40m in sleaford renewable energy plant

3 December 2020

Leeds-based Border to Coast Pensions Partnership (“Border to Coast”), one of the largest UK pension pools, has invested £40m in Sleaford Renewable Energy Plant, a straw-fired biomass plant located in Lincolnshire, United Kingdom.

The transaction marks Border to Coast’s first co-investment and further underscores the expertise and capabilities of the partnership’s internal investment team. The investment has been made with Greencoat Capital LLP (‘Greencoat’), one of the UK’s largest investors in resource efficient and renewable energy, for a minority stake in the 39 MWe renewable combined heat and power plant.

Sleaford Renewable Energy Plant uses a blend of locally sourced straw and sustainable woodchip to generate renewable power and heat, capable of generating electricity for 65,000 homes, saving 50,000 tonnes of CO2 per annum.

Located within the ‘Grain Belt’ in Lincolnshire, the plant provides a reliable route to market for straw, an agricultural by-product which can represent an additional income source for local farmers. The plant also provides free heat to public buildings in Sleaford town centre, including the swimming pool, a primary school and the council offices.

Source: Border to Coast Pensions Partnership