The National Grid UK Pension Scheme (NGUKPS) has agreed a UK corporate pension mandate with Octopus Renewables to invest £185m in British solar and onshore wind assets.

The clean energy investor’s new fund, dubbed the Renewable Energy Income Partnership III, is the third it has secured in just over two years as part of its institutional investor income partnership strategy.

The company said that the 25-year investment is set to benefit from an “attractive pipeline of opportunities” and “proven origination capability”.

Octopus Renewables co-head, Alex Brierley, said: “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.”

Octopus Renewables, which forms part of financial services and energy specialist Octopus Group, is the largest commercial scale solar energy investor in Europe and currently has over £3.2bn of energy assets under management.

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