Railpen expands renewable energy investments with solar farm purchase

Railpen, which manages £37bn of assets for railway pension schemes in the UK, has announced the acquisition of a solar farm in Cambridgeshire.

Bracks solar farm, previously owned by the BayWa r.e. global renewable energy company, is a 30 MWp project that is expected to generate clean energy for 8,700 homes. It is due to be operating from summer 2023 and was purchased for an undisclosed price.

This is the second deal between Railpen and BayWa r.e. following on from the purchase of Tralog Wind Farm in 2019. Both acquisitions expand on Railpen’s broader renewable energy investments, including the Margam and Sleaford renewable energy plants.

Alena Antonava, Investment Manager at Railpen, said: “Bracks is a great addition to Railpen’s renewable assets portfolio, alongside our existing onshore wind, biomass, and energy storage investments. Bracks, once constructed, will be delivering secure and stable income to our scheme members whilst supporting Railpen’s commitments to achieve net zero across its investment portfolio.”

Railpen has a target of delivering a net-zero portfolio by 2050.