Aberdeen Standard Investments (ASI) infrastructure debt team has invested GBP48 million in a UK smart meter business.This partnership with Calvin Capital, a part of the Calisen Group, will help drive the UK’s green agenda forward aligning UK homes with UK smart meter ambitions and targets. ASI’s investment helps refinance 3.8 million smart meters and facilitate the installation of a further 6.4 million smart meters by the end of 2024.
The investment was made on behalf of the ASI Multi-Sector Private Credit Fund as well as strategic clients, including Phoenix Group, amongst others. The investment will deliver long-term, reliable cash flows helping investors meet their future liabilities.
Over the last two years ASI have lent to a number of sectors within the renewables space, including UK wind, solar and hydro power and district heating. This latest green investment demonstrates ASI’s continuing commitment to ESG considerations as smart metering will play a vital role in managing the energy markets going forward.
Jeremy Allcock, Head of Infrastructure Debt- Aberdeen Standard Investments, says: “This market leading transaction highlights our focus on investing for a better future. The long term strategy of Calvin Capital will help to drive the UK green agenda forward, whilst aiming to deliver returns for our clients alongside the ability to match long term liabilities.”
