LGIM finalizes £25 million deal to fund renewable energy projects in Europe

Legal & General Investment Management (LGIM) has concluded a £25 million deal to help fund renewable energy projects in Europe.

The group closed the deal with the National Trust which is expected to support the UK conservation charity’s net zero by 2030 goal.

It has been informed that the investment will be used in the new renewable energy hydropower and solar generation projects. 

According to the National Trust, it has so far completed over 140 renewable energy projects on its lands in the last 10 years.

For LGIM, the latest development is followed by the launch of the Legal & General Future World ESG Developed Fossil Fuel Exclusions Index Fund, which is developed in collaboration with the National Trust.

Dabinder Hutchinson, Director of Finance at the National Trust was quoted in a statement, “The National Trust is delighted to raise £25m from LGIM to fund the next phase of our hydro-electric and solar renewable generation projects. As Europe’s largest conservation charity, decarbonising our estate and transitioning to more sustainable forms of energy is hugely important for us.”

Furthermore, he stated that the development of more climate friendly investment portfolios is crucial to boost the renewable sector.

Meanwhile, Steve Bolton, Head of Corporate Private Debt, LGIM, remarked, “We’re delighted to strengthen our relationship with the National Trust and support them in achieving their net-zero and sustainable energy goals. LGIM and the National Trust have a long history of collaboration and this new investment is a great example of how charitable funds can be invested in a socially and economically useful way, driving positive long-term outcomes.”