The UK鈥檚 Pensions Infrastructure Platform (PiP) has financed a portfolio of UK solar assets.
PiP, working on behalf of one of its founders, RPMI Railpen, said the 拢20.3m (鈧�24.2m) facility refinanced a portfolio of 1,911 rooftop solar assets owned by Foresight.
Chris Hitchen, chief executive at Railpen, which manages the 拢24bn Railways Pension Scheme in the UK, said the debt investment would deliver secure, long-term, inflation-linked cash flows.
鈥淎s a founding investor of the PiP, we are delighted it has developed the capabilities to effectively source and execute transactions such as this 鈥� a key objective of our support for its original establishment,鈥� he said.
Mike Weston, chief executive at the PiP, said: 鈥淎 UK pension scheme has been able to utilise the platform structure and expertise they helped build at the PiP to access a proprietary infrastructure investment opportunity that is a great fit with their scheme-specific investment strategy.鈥�
The PiP said the deal was similar to an investment made by its Multi-Strategy Infrastructure Fund (MSIF) earlier this year.
The its first for its inaugural in-house fund, saw the PiP provide a refinancing package to an unnamed rooftop solar provider.
The MSIF, , had its from the West Midlands Pension Fund, Strathclyde Pension Fund and others.
