Strathclyde Pension Fund to invest GBP 80 Million in UK GIB’s Offshore Wind

Strathclyde Pension Fund (SPF) has plans to invest £80 million (US$106 million) in UK GIB's Offshore Wind Fund (GIB OWF) in order to increase its investment portfolio.

SPF already committed £30 million to the GIB OWF as part of an initially approved investment of £50 million. SPF tries, through this investment, to acquire a larger share in operational assets in the offshore wind sector, expecting gross revenues of 9-11%. 

The UK GIB's Offshore Wind Fund is dedicated solely to investments in offshore wind power generation and provides long-term institutional investors with the opportunity to access the UK's green infrastructure sector.

The fund represents their first investments in the UK offshore wind sector. Second close investors join UK-based pension funds, a major sovereign wealth fund and UK Green Investment Bank plc (GIB) in the partnership.

By the end of the 2015/16 financial year, the fund was well established having raised £818 million of capital from 7 investors, including a commitment of £50 million from Strathclyde Pension Fund (SPF). It has acquired interest in 5 assets with a total value of £710 million in its first 12 months, with each asset fully operational and producing an immediate cash yield for investors.