Greencoat Capital launches new private market fund

Greencoat Capital has launched a new closed-ended private markets fund, Greencoat Renewable Income LP (GRI) and has secured GBP277 million (US$360.11 million) of commitments from leading UK pension investors Brunel and SAUL. 

GRI offers institutional investors the opportunity to invest, through one vehicle, in a diversified portfolio of UK renewable infrastructure assets delivering predictable sterling cashflows with significant inflation protection. Investments are expected to focus on solar, wind and bioenergy, with selected other green infrastructure opportunities such as renewable heat.

The fund has allocated around GBP130 million (US$169 million) of capital to three investments to date: a share of the Templeborough Biomass Power Plant, a 40 MW operating waste wood biomass plant in Rotherham; a share of two of the largest low carbon greenhouses in the UK – currently in construction; and a commitment to Greencoat Solar II LP, the UK’s largest private markets solar fund which itself now has investor commitments of over GBP1 billion (US$1.3 billion).