Phoenix Group, the specialist consolidator of closed life and pension funds, has completed a multi-million pound renewable energy investment deal.

Phoenix has invested £27 million in the Walney Extension Project to assist with the construction and operation of the enlarged offshore wind farm, situated 45 miles north of Liverpool. Phoenix participated in providing debt-financing for the acquisition of a 50 per cent share in the Walney Extension Offshore Wind Farm Project, jointly owned by green energy company, Orsted (formerly Dong Energy) and Danish pension funds, PKA and PFA. The tranche of the bond Phoenix invested in is additionally guaranteed by EKF, Denmark’s Export Credit Agency.

This is the first investment in renewable energy for Phoenix, which has sought to diversify its investment portfolio.

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