UK investors acquire majority stake in 250MW solar portfolio

A partnership of UK pension funds has acquired a 75% stake in a circa-250MW portfolio of seven solar assets across England, as part of a strategic collaboration with Bluefield Solar Income Fund (Bluefield Solar).

GLIL Infrastructure, the £4.1bn investment vehicle backed by Local Government Pension Scheme (LGPS) funds and pools, has invested in assets spanning southern and central England. The portfolio includes one operational solar asset, one battery energy storage system currently under construction, and four ready-to-build solar projects.

The deal marks the third phase of GLIL’s strategic partnership with Bluefield Solar, bringing the total renewables capacity under joint management to 626MW.

Jing Zhao, deputy portfolio manager at GLIL Infrastructure, said: “This completes what is now one of the largest and most diverse solar and battery portfolios in the UK.

“These assets also strongly align with our strategy to increase our exposure to development and construction opportunities, allowing us to add real value by leveraging our experience in operational energy.”

The GLIL–Bluefield partnership began in 2023, with the acquisition of 58 operational UK projects. That transaction saw GLIL invest £200m and Bluefield Solar commit £20m in 247MW of installed capacity.

A second phase was announced in July 2024, involving a further joint investment of £141m.

Neil Wood, partner at Bluefield Partners LLP, investment adviser to Bluefield Solar, said: “In just 18 months, Bluefield , with GLIL, has built one of the premier solar and battery portfolios in the UK, with an energy capacity of 626MW. This transaction underscores the growing role of renewables as core infrastructure assets in the UK.”

GLIL invests on behalf of Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund and West Yorkshire Pension Fund, as well as Nest.