Railpen, one of the largest pension managers in the UK, has today announced its expansion in UK renewable energy with the acquisition of a Cambridgeshire solar project.
The Bracks solar farm, previously owned by BayWa r.e., the global renewable energy company, is a 30 MWp project which will generate clean energy to supply approximately 8,700 homes.
This acquisition marks the second deal between Railpen and BayWa r.e., the first of which was the purchase of Tralorg Wind Farm in 2019. These acquisitions expand on Railpen’s broader renewable energy investments including the Margam and Sleaford renewable energy plants and the recent investment in battery energy storage with Constantine Energy Storage, demonstrating Railpen’s commitment to support the UK’s green energy transition.
Alena Antonava, Investment Manager at Railpen, said: “Bracks is a great addition to Railpen’s renewable assets portfolio, alongside our existing onshore wind, biomass, and energy storage investments. Bracks, once constructed, will be delivering secure and stable income to our scheme members whilst supporting Railpen’s commitments to achieve Net Zero across its investment portfolio. Our continued investment in renewal energy also support the UK government in achieving its decarbonisation targets. We look forward to our continued working relationship with the experienced team of BayWa r.e.”.
John Milligan, Managing Director, UK & Ireland at BayWa r.e., said: “Securing reliable and economic long-term supply of domestically generated energy is more essential than ever in the face of the climate and energy crises. The implementation of renewable energy projects is key to this, and we are delighted to have brought Bracksto the point of being an attractive investment opportunity for our customers. These project will also make an important contribution to the UK government’s ambitions in meeting its Net Zero emission commitment by 2050. We look forward to continuing our work in the UK to help achieve vital sustainability goals.”
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