FINANCE
LEADING THE WAY Shaun Kingsbury, Executive Chairman of the Board, UK GIBFS and Chief Executive of the UK Green Investment Bank plc, said: “We created the OSW Fund to provide investors like pension funds, insurance companies and other asset managers with access to a team of market-leading industry experts.
“We are delighted to be working with investors of the calibre of AMF and Strathclyde Pension Fund, each of whom are leading the way in their recognition of the business value of investments in green infrastructure. This is a great way to put infrastructure money to work in the UK, the world’s leading market for offshore wind.”
INVESTOR CONFIDENCE Karl Smith, Fund Managing Director, UK GIBFS Limited, said: “This second successful round of fundraising highlights the growing confidence that home- grown and international investors have in well-developed and well-managed offshore wind assets in the UK. We are in advanced discussions with other potential investors and progressing quickly towards final close and reaching our £1bn target.”
Peder Hassley, Chief Investment Officer, AMF, said: “AMF is responsible for managing the pensions of 4 million Swedes and is attracted to opportunities where responsible investments and good returns go hand-in-hand. We are very pleased to have committed to GIBFS’s Offshore Wind Fund as we strongly believe that investing in UK green infrastructure fulfils both requirements.”
Councillor Paul Rooney, Chair, Strathclyde Pension Fund, said: “This is our biggest investment to date in green infrastructure in the UK. Our fund was already working closely with the Green Investment Bank to provide finance for community-scale renewable energy projects and we are excited to follow that project by taking a stake in a long-term and globally significant investment in offshore wind power.
“We are confident it is one that will deliver not only sustainable and secure energy infrastructure for the future of our communities, but a sustainable and secure future for our members who are saving for retirement.”
EXCELLENT NEWS
Commenting on the intermediate close of the Green Investment Bank’s Offshore Wind Fund, Andrew Jamieson, CEO of the Offshore Renewable Energy Catapult, said: “This is excellent news that reinforces the UK's primary role in the development of an offshore renewable energy industry that will be a huge economic boon to the UK's economy in the decades to come.
“The readiness of the international investment community – and the more risk averse pension funds in particular – to invest in the Green Investment Bank's Offshore Wind Fund is testament to industry's concerted efforts to reduce risk and lower costs on the journey to parity with fossil fuel generation.”
Green Investment Bank ORE Catapult
www.windenergynetwork.co.uk
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