Brighter days for British pensions!

Pension fund USS has invested £200 million to secure a 50% stake in solar energy developer Bruc Energy

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Britain’s largest private pension fund run by assets Universities Superannuation Scheme (USS) has taken over a 50% share of solar energy developer Bruc Energy following a £200 million investment.

The company has a 4GW pipeline of solar photovoltaic (PV) farms in Spain and Portugal.

The transaction was advised by the Royal Bank of Canada, the independent investment bank Greenhill and the Japanese financial holding company Nomura.

USS Investment Management Chief Executive Officer Simon Pilcher said: “We have already invested or committed around £1 billion to renewable energy and demand for this will only increase as more and more countries transition to lower carbon.”

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