Renewables investor Octopus is partnering with Korea Investment & Securities to buy 15 UK solar farms for £107m.
The partners have set up the Renewable Energy Income Partnership II vehicle as part of Octopus’ institutional investment strategy.
Korea Investment & Securities underwrote the £107m equity, which it provided, and debt, which will be acquired by three Korean insurance companies – Samsung Fire & Marine Insurance, KB Insurance and Hyundai Marine & Fire Insurance.
Octopus director of energy investments Alex Brierley said: “Renewable Energy infrastructure is an increasingly attractive asset class for institutional investors looking for real assets that offer returns over the long-term.
“We look forward to working with our new partners, a selection of the largest investors in Asia, and originating further renewable energy investment opportunities for them.”
The investment brings Octopus’ total assets under management of institutional funds to £2.3bn.