Greater Manchester Pension Fund to invest £10 million of its members’ cash into renewable energy projects
We like stories like this; Cleantechnica reports on a move by the Greater Manchester Pension Fund to invest £10 million of its members’ cash into renewable energy projects.
Isn’t it better that energy is produced and owned by a collective which distributes the income stream to its members than a remote German or French owned utility?
Solar energy is uniquely placed to allow growth in this type of investment. The scale of capital investment is manageable - even the largest pension funds will choke on the up front costs associated with conventional energy generation - and the absence of any ongoing fuel inputs and low maintenance costs mean that income streams are predictable and reliable over twenty five years. Exactly the sort of asset that pension funds, with long term liabilities, need to own.
The same cannot be said of pension investments in oil, gas and large energy utility stocks.
Read more at CleanTechnica.