UK railways pension scheme Railpen has added a 30MWp solar project to its UK renewable energy portfolio.
The 拢37bn (鈧�42bn) pension scheme has acquired the Bracks solar farm in Cambridgeshire from global renewable energy company BayWa re.
The Bracks solar farm acquisition is the second deal between Railpen and BayWa re. In 2019, Railpen bought the Tralorg Wind Farm in South Ayrshire in Scotland from BayWa re.
The deals also expand Railpen鈥檚 UK renewables portfolio which includes the Margam and Sleaford renewable energy plants and the grid-scale battery energy storage platform Constantine Energy Storage.
Alena Antonava, investment manager at Railpen, said: 鈥淏racks is a great addition to Railpen鈥檚 renewable assets portfolio, alongside our existing onshore wind, biomass, and energy storage investments. Bracks, once constructed, will be delivering secure and stable income to our scheme members whilst supporting Railpen鈥檚 commitments to achieve Net Zero across its investment portfolio.
鈥淥ur continued investment in renewable energy also supports the UK government in achieving its decarbonisation targets. We look forward to our continued working relationship with the experienced team of BayWa re.鈥�
John Milligan, BayWa re鈥檚 UK & Ireland managing director, said: 鈥淪ecuring reliable and economic long-term supply of domestically generated energy is more essential than ever in the face of the climate and energy crises.
鈥淭he implementation of renewable energy projects is key to this, and we are delighted to have brought Bracksto the point of being an attractive investment opportunity for our customers.
鈥淭hese projects will also make an important contribution to the UK government鈥檚 ambitions in meeting its Net Zero emission commitment by 2050. We look forward to continuing our work in the UK to help achieve vital sustainability goals.鈥�
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