Wiltshire Pension Fund has joined forces with five other funds belonging to the Brunel Pension Partnership Pool, Avon, Cornwall, Devon, Gloucestershire and Oxfordshire, backing £330m in commitments to the Wessex Gardens fund managed by Schroders Greencoat.
Wiltshire Pension Fund alone has committed £100m to the strategy which now makes 7% of its climate opportunities multi-asset strategy, acting as a cornerstone investment.
Jennifer Devine, head of Wiltshire Pension Fund (pictured), commented: “We are thrilled to be involved in this collaboration with other Local Government Pension Scheme (LGPS) funds. Together we can use our scale to make a substantial, widespread positive impact, actively investing in and benefiting from the transition to a low carbon economy.
“To be able to deliver this impact across the South West and support business and societies in greening their grid is fantastic. We’re delighted to be working with Schroders Greencoat again, and levelling up our impact across the region,” she added.
The mandate is focused on delivering local impact, targeting investments in renewable energy in the counties of Dorset, Somerset, Avon, Cornwall, Devon, Wiltshire, Oxfordshire, Buckinghamshire and Gloucestershire.
It will target investments in a wide range of renewable energy technologies, including in traditional sectors of solar PV and wind, and innovative energy transition sub-sectors such as battery storage and green hydrogen production.
Schroders said it represented the largest-ever commitment by UK LGPS funds into place-based and locally focused renewable energy infrastructure.
The launch of this South-West focused strategy follows the launch of Greencoat Cornwall Gardens LP launched in 2022; a tailored fund targeting renewable assets in Cornwall supported by Cornwall Pension Fund and Brunel Pension Partnership.
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