The UK鈥檚 Green Investment Bank has invested 拢429m (鈧�490m) in renewable infrastructure, taking its offshore wind-farm fund past its 拢1bn target.
The GIB Offshore Wind Fund now has 拢1.12bn in assets under management.
The latest acquisition, a 44% stake in a 270 MW wind farm near Lincolnshire, is the sixth asset bought for the fund, which was .
Karl Smith, managing director of the GIB Offshore Wind Fund, said: 鈥淭his is an attractive asset purchase in the current market.鈥�
The deal is the fund鈥檚 last, GIB said, with total capacity now at 1.45GW.
The asset was sold by Centrica, which will continue to manage the farm, and Siemens Project Ventures.
UK local authority pension schemes, including Strathclyde Pension Fund are invested in the fund. Other investors include Swedish life insurance and pension company AMF and a Middle Eastern sovereign wealth fund.
Bailie Philip Braat, chair of Strathclyde Pension Fund said investing with the GIB was 鈥渁lways going to be a good fit鈥� for the pension fund.
GIB has been up for sale by the UK government, and Australian bank Macquarie, which runs the world鈥檚 largest infrastructure investment management business, is the preferred bidder.
