Capital Dynamics, an asset management company, has successfully secured £48.5m ($61.4m) in funding for its inaugural Scottish onshore wind projects that boast a combined capacity of 193MW.
The funding for Capital Dynamics’ Clean Energy UK Fund is provided by Border to Coast Pensions Partnership, the largest Local Government Pension Scheme pool in the UK.
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This investment represents the first venture within Border to Coast’s UK Opportunities portfolio on behalf of its Partner Funds.
Border to Coast chief investment officer Joe McDonnell said: “From the outset we said our UK Opportunities proposition would focus on adding value through financing the build of new infrastructure and our first commitment on behalf of Partner Funds delivers just that.
“Capital Dynamics offers not only a strong investment opportunity, but also the ability to have a tangible impact on the future pipeline of renewable energy infrastructure that the UK sorely needs if it is to reduce its reliance on oil and gas and meet net-zero goals.”
The Clean Energy UK Fund by Capital Dynamics is dedicated to investing in renewable energy projects, with a primary focus on onshore wind and solar power.
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By GlobalDataFor each project within its portfolio, the Clean Energy Team at Capital Dynamics ensures the establishment of long-term, fixed-price power purchase agreements.
Capital Dynamics Clean Energy co-head Barney Coles said: “We are delighted that Border to Coast, through its UK Opportunities strategy, has joined our global institutional clients in committing to our Clean Energy UK Fund.
“By doing so, Border to Coast continues its leadership in supporting the UK’s transition to a net-zero energy system, while also benefitting from our unique approach to delivering attractive risk-adjusted returns and positive local impact.”
