Manchester Pension Fund Invests in U.K. Clean-Power Projects

(Bloomberg) — Greater Manchester Pension Fund invested 10
million pounds ($15 million) in a U.K. developer of clean-energy
projects for local communities.

The fund joined the country’s Green Investment Bank and
Strathclyde Pension Fund to funnel money into Albion Community
Power Plc, the GIB said Monday in an e-mailed statement. The GIB
and SPF already have invested 50 million pounds and 10 million
pounds into Albion, respectively.

The funding means Albion has now raised 70 million pounds
toward a 100 million-pound target to invest in small-scale
renewable-energy projects for British communities. It’s started
building a hydropower plant in the Scottish Highlands that will
generate enough electricity to supply about 550 homes.

To contact the reporter on this story:
Louise Downing in London at
ldowning4@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Randall Hackley, Dan Weeks

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