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London and Greater Manchester pension funds invest £60m in renewable energy
The investment comes as part of a joint venture that has committed to investing £500 million in infrastructure projects, with a further £9 million expected to go towards Leeming Biogas, which generates biomethane from food waste.
Sir Merrick Cockell, Chairman of London Pensions Fund Authority (LPFA), said: “The steps we have taken with Greater Manchester Pension Fund over the past year are a prime example of how LGPS Funds can collaborate to make investments for the benefit of UK infrastructure and in order to meet their own long-term investment goals.
“It’s our desire that others will see this success and look to see how they too can be a part of it.”
Tameside Council leader and chairman of the Greater Manchester Pension Fund Kieran Quinn said: “I’m delighted that our collaboration with the LFPA has made its first investment. The capital we have allocated will allow both funds to increase investment in UK infrastructure while at the same time delivering the societal benefit of developing renewable energy projects across the country, including the north west.”
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