GLIL Infrastructure will increase its investment in a Scottish wind farm over a series of transactions in the coming months
The local authority investment vehicle will take on an additional 2.2% in the Clyde Windfarm for £29.5m towards the end of August or beginning of September.
This will be after its current shareholding, acquired in March last year, is diluted from 21.7% to 13% when an extension to the windfarm begins operating.
The £1.3bn fund coordinates the investment of infrastructure assets for the London Pension Fund Authority, and the local government pension funds for Greater Manchester, West Yorkshire, Merseyside and Lancashire County.
The remaining shareholding is held by energy company Scottish and Southern Energy (SSE), which operates the windfarm.
The investments are made in partnership with Greencoat UK Wind, with the pair also having entered into a call option to buy a further 14.9% of Clyde for £202.2m between April and June next year.
This proposed stake would see GLIL increase its shareholding back to the current level of 21.7% for a cost of £88m. The call option is exercisable by either Greencoat or GLIL.
GLIL was unavailable for comment at the time of publication.
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