Major new investor joins Partnership for Renewables

Partnerships for Renewables has announced that one of Canada’s largest pension fund managers, OPSEU Pension Trust (OPTrust), has joined Carbon Trust Enterprises and HSBC Environmental Infrastructure Fund as a major investor in the company.

OPTrust has committed up to £19million to gain a 33% stake in Partnerships for Renewables (PfR).

Tom Delay, Chairman of Partnerships for Renewables and Chief Executive of the Carbon Trust, said:

“Green growth needs a massive injection of private capital to enable the UK to deliver on its carbon targets.  We are delighted to have attracted in Canadian pension funds to ensure that PfR is positioned for further growth and can build out major renewable power projects on public sector land in the years ahead.”

PfR was set up by the Carbon Trust in 2006 to develop, construct and operate renewable energy projects on public sector land. The company works with a range of customers including central Government agencies and local authorities across the country to plan, construct and operate wind and other renewable energy projects.

PfR is progressing well towards its goal of developing over 500 megawatts of renewable energy on public sector land. This is enough to power the houses of Exeter, Oxford, Norwich and Newcastle combined; more than 250,000 houses at zero carbon cost to the environment.

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