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GLIL Infrastructure and Bluefield Solar Income Fund (BSIF), the London-listed income fund (LON: BSIF), are set to inject a further £141 million into solar energy assets in the latest phase of their strategic partnership. The investment will see GLIL acquire a 50% stake in a 112MW portfolio, reiterating its commitment to invest in UK-focussed solar energy assets. The portfolio comprises nine operating sites and spans southern and central England, all backed by the relevant Renewable Obligation Certificates (‘ROCs’) accreditation. Julia Carter, CFA Carter, Deputy Portfolio Manager at GLIL Infrastructure, said: "This acquisition represents the continuation of our strong strategic relationship with the team at Bluefield Solar, as well as our commitment on behalf of our members to helping drive the energy transition." Read more: https://lnkd.in/e8uutJSh Ted Frith Jonathan Ord Richard J. Tomlinson #Pensions #LGPS #SustainableFinance #RenewableEnergy #SolarPower #InfrastructureInvestment #SustainableInvesting #EnergyTransition #UKSolar #CleanEnergy

London-listed Bluefield Solar Income Fund (BSIF), part of Bluefield Partners LLP, has completed phase two of its strategic partnership with GLIL Infrastructure, selling a 50% stake in a 112 MW portfolio of UK solar assets that was previously fully owned by Bluefield Solar. Following this transaction and the prior acquisition of the Lightsource bp portfolio, Bluefield Solar’s equity stake across the combined portfolios has grown to approximately 25%. Bluefield Solar is now progressing to phase three of the partnership, in which both Bluefield and GLIL will invest in the construction of around 10% of the company’s development pipeline. This includes an initially identified portfolio of approximately 17 MW of Auction Round 4 Contracts for Difference (CfD) development assets, expected to be grid-connected within the next year. GLIL, a partnership of UK pension funds with a £3 billion portfolio of infrastructure assets, includes key stakeholders such as the Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund, West Yorkshire Pension Fund, and Nest. #cleanenergy

EnCap Investments Raises $1.5bn for Second US Energy Transition Fund 🌿 EnCap Investments L.L.C Investments has successfully closed its second US energy transition fund, raising an impressive $1.5bn (€1.4bn). This exceeds the $1.2bn raised for its first fund in May 2021. Significant commitments include $50m from Arkansas Teacher Retirement System, $80m from Ohio Police & Fire Pension Fund, and $75m from Orange County Employees Retirement System. EETF II is focused on decarbonizing the power industry and investing in low carbon fuels and carbon management. It has already committed to five portfolio companies: Linea Energy, Parliament Solar, PowerTransitions, Arbor Renewable Gas, and Bildmore Renewables. Jim Hughes, managing partner, highlighted their robust investor support and ongoing investment opportunities in renewables, energy storage, clean fuels, and carbon solutions. Jason DeLorenzo, managing partner, expressed pride in the fund’s success and their mission to meet global energy needs. EnCap now manages approximately $2.7bn dedicated to decarbonization since its inception in 2019. This fund exemplifies the increasing commitment from both public and private sectors to address climate change and support a sustainable future. Investments like these are essential for accelerating the transition to a low-carbon economy. They provide the necessary capital to scale up renewable energy projects, develop new technologies, and create jobs, thereby ensuring a more sustainable and secure energy future. As EnCap continues to lead with strategic investments, it sets a powerful precedent for others in the industry to follow, highlighting the crucial role of financial markets in driving the energy transition. 📈 #EnergyTransition #RenewableEnergy #SustainableInvesting

Schroders Greencoat has launched the Global Renewables+ LTAF, offering investors access to renewables and energy transition infrastructure investments. This marks the second LTAF from Schroders, which launched the UK's first long-term asset fund in March 2023 🔗 Get the scoop on Investment Week here: http://ow.ly/W5qf105fxUN #funds #energytransition #renewableenergy #investmentweek

The article is behind a paywall but Pine Gate Renewables took in $650 million for investment in projects. Retirement funds and private equity are realizing the financial benefits investment in clean power can generate for their beneficiaries and customers as it provides a good hedge to volatility in the market. https://lnkd.in/dydVu8uE

Puget Sound Energy (PSE), which is jointly owned by Canadian pension funds, announced it will develop a utility-scale solar facility and battery storage system that will add almost 342 megawatts of renewable energy generation capacity to its portfolio. Since 2019, the Washington gas and electric utility has added more than 3,800 MW of renewable energy to its resource mix. PSE plans to add 1,500 MW of battery storage capacity by 2030 to effectively operate and manage peak electricity demand. "We're excited to bring clean, reliable utility-scale solar energy to our customers, especially during peak summer months when cooling demand is high," says PSE's Ron Roberts, senior vice president of Energy Resources. "This project demonstrates our commitment to a low-carbon future and advances our efforts to meet Washington state's ambitious clean energy goals." PSE is 23.9% owned by OMERS, 20.9% by the British Columbia Investment Management Corporation (BCI), 15.8% by Ontario Teachers' Pension Plan and 13.6% by Alberta Investment Management Corporation (AIMCo), as well as by Brookfield and a Dutch pension fund. Replacing fossil-fueled power generation with renewable energy and phasing out gas pipeline networks is a smart investment for Canadian pension funds and for the climate.

TagEnergy reached financial close on the second stage of its A$4 billion ($2.6 billion) Golden Plains Wind Farm in Victoria, Australia. The 1.333 GW Golden Plains Wind Farm will comprise the 756 MW Stage 1 and 577 MW Stage 2 projects, which is set to deliver 9% of Victoria’s energy when completed in mid-2027. TagEnergy secured non-recourse finance from a global group of lenders, including: the Clean Energy Finance Corporation, Commonwealth Bank of Australia, Westpac, Export and Investment Fund of Denmark, Mizuho Bank, Natixis Corporate & Investment Banking, Bank of China, and Deutsche Bank. After completing the financing, TagEnergy launched construction work on Stage 2 of the project, featuring 93 wind turbine generators, with Vestas in place to deliver the EPC contract. “We couldn’t be prouder to be delivering the largest wind farm in the Southern Hemisphere,” said TagEnergy’s Managing Partner – Australia, Andrew Riggs. “This mega-project materially improves Victoria’s energy security, puts downward pressure on electricity costs and dramatically reduces carbon pollution. Together with our partners, we are accelerating the energy transition." CEFC CEO Ian Learmonth added: “In a further demonstration of the success of our innovative ‘bridge to contract’ finance, CEFC capital will enable construction to begin before Stage 2 secures power purchase agreements, ensuring faster deployment of clean, green power to Victorian consumers. This strategy helped fast track construction of Stage 1, which has subsequently contracted 60 per cent of its energy.” Golden Plains Wind Farm Stage 1 (approximately 25% complete) is expected to start producing green energy in Q1 2025, with Stage 2 to follow in mid-2027. Once online, Golden Plains Wind Farm will provide enough clean energy to power more than 750,000 homes, or the equivalent of every home in regional Victoria. TagEnergy and the lenders were advised by White & Case LLP, Lazard Australia, Chatham Financial, Aurora, Unity Willis Towers Watson, Aurecon, RINA, ClayMatter, KPMG, KWM, BMS Group, and Kromann Reumert. #cleanenergy

BlackRock Inc., alongside Morgan Stanley investment funds, has entered into an agreement to acquire TC Energy's Portland Natural Gas Transmission System, LP in a deal valued at approximately $1.14 billion. This strategic acquisition includes taking on $250 million in debt. As part of this transaction, TC Energy, together with its partner Énergir LP, anticipates pretax cash equity proceeds of around C$740 million ($545 million). This move aligns with BlackRock's ambition to expand its footprint in the infrastructure sector, following significant investments such as the acquisition of Global Infrastructure Partners (GIP) for about $12.5 billion and a $500 million investment in Canadian Solar Inc.'s subsidiary. For TC Energy, this sale contributes to its objective of divesting C$3 billion in assets this year to alleviate its debt burden. The Portland Natural Gas Transmission System encompasses 295 miles (475 kilometers) of natural gas pipelines across northern New England and Atlantic Canada. Barclays served as the financial advisor to TC Energy and Energir for this transaction, with Bracewell LLP providing legal counsel to TC Energy. https://lnkd.in/gsHt2geY

The energy transition is well under way, with economic and policy frameworks set to continue supporting strong renewables buildout across key markets. While Europe has made significant progress, grid capacity needs to be doubled if we are to reach our climate targets. Uusnivala BESS marks our first battery storage asset and increases our exposure in Finland. The electricity grid, and transmission assets that support it, are critical to Europe’s net zero ambitions; they are the backbone of the transition.

London-listed Bluefield Solar, part of Bluefield Partners LLP, has acquired a 247 MW portfolio of UK solar assets from Lightsource bp. Bluefield Solar completed the deal as the first phase of a strategic partnership with GLIL Infrastructure, which itself is a partnership of UK pension funds that manages a portfolio worth £3 billion in core UK infrastructure assets, including Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund, West Yorkshire Pension Fund and Nest. Bluefield Solar and GLIL’s new portfolio comprises 58 operating solar sites, of which 184MW are supported by Feed-in Tariff (FiT) subsidies, 15MW by Renewable Obligation Certificates (ROCs), and two subsidy-free projects totalling 48 MW. From 2023 to 2035, around 80% of the portfolio’s revenue is expected to be fixed and regulated. Bluefield Solar contributed £20 million for the portfolio investment, or 9% of the equity, with GLIL funding the remainder, totalling £200 million. “[Bluefield Solar] continues to progress phase two of the Strategic Partnership, where GLIL has provisionally agreed to acquire a 50% stake in a portfolio of more than 100 MW of operational UK solar assets currently owned by the company,” Bluefield explained in a statement. “The provisional acquisition price is in line with the company’s current valuation. The strategic partnership intends to reach financial close in the first half of 2024.” The third phase of the partnership between Bluefield Solar and GLIL will involve capital commitment to a selection of the company’s development pipeline, subject to favorable market conditions. The identified development assets are expected to be connected to the grid within the next two to three years. #cleanenergy