PIC invests £128 million in low-carbon transformation of University of Birmingham student accommodation

26 January 2022

Pension Insurance Corporation plc (“PIC”), a specialist insurer of defined benefit pension funds, has completed a £128 million secured debt investment into the University of Birmingham, enabling it to transform its Pritchatts Park Student Village site into a 1,230-room low-carbon residential facility. The development is a vital part of the University’s growth ambitions and is a key on-campus accommodation offered by the University.

The low-carbon design of the upgraded accommodation will be achieved using solar photovoltaic panels wherever possible, along with direct electric heating. The upgraded buildings will also improve air quality through a zero-carbon emissions strategy. To date, PIC has invested more than £11 billion in socially beneficial investments in the UK, which meet wider Environmental, Social and Governance investment criteria, creating jobs, helping the transition to a greener economy, and balancing intergenerational equity

Source: PIC