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Greater Manchester Pension Fund

Renewables/Energy Transition

Renewable energy developer nets further £10million investment

Renewable energy developer Albion Community Power (ACP) yesterday secured a further £10million investment as it seeks to build a £100million fund for small-scale biogas, hydro-electric, solar and wind projects. Greater Manchester Pension Fund (GMPF) is pumping the latest cash into the fund, which in February raised £50million from the Edinburgh-based UK Green Investment Bank (GIB) and £10million from the Strathclyde Pension Fund. When he unveiled the fund back in February, the-then business secretary Vince Cable said it would provide equity finance of between £1million and £10million community-scale schemes, including run-of-river hydro schemes, wind turbines on brownfield sites such as industrial estates, and biogas produced at landfill sites and from anaerobic digesters.