20 October 2021
Nest, one of the UK’s largest pension schemes by membership, has today confirmed the purchase of a multi-million-pound solar farm through its partnership with Octopus Renewables.
Octopus Renewables, as its lead fund manager for renewable investments, is helping the pension scheme invest billions of pounds into green infrastructure over the coming decades.
The first people to formally tour the 60,000-panel solar farm, following its addition to Nest’s £20bn investment portfolio, were Nest savers. In total nearly 10 million Nest members, a third of the UK workforce, are now investors in the solar farm.
The investment into the Reading solar farm represents one of the largest deals by Nest into green UK renewable energy. Nest’s membership should benefit from the strong investment returns the solar farm is expected to produce for decades to come, under the management of Octopus Renewables.
Nest savers were invited to visit the site on Monday, 18 October to show how their pension was being invested in the real world, connecting people to their pension through something they can see.
Research shows people care how their pension is invested, particularly in relation to climate change. 65% of pension savers believe their pension should be invested in a way that reduces the impact of climate change. Just 4% strongly disagreed.
Speaking ahead of the visit Mark Gamble, a Nest member, welcomed the commitment from Nest to green infrastructure:
“I like the idea of investing in sustainable environmentally friendly projects, like this massive solar farm. I find the idea of investing in sustainable energy and similar projects very exciting.”
“This partnership with Octopus is exactly the type of thing Nest should be nurturing. It helps to protect our world and at the same time earns good returns for its members.”Source: NEST
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