Pensions Infrastructure Platform (PiP), an infrastructure investment manager established for pension schemes to facilitate long-term investment into UK infrastructure, has provided GBP27.5 million of inflation-linked debt financing to refinance a portfolio of 2,366 rooftop solar assets being arranged by Novatio Capital.
The rooftop assets are geographically distributed across England and Wales, with a total installed capacity of 6.71 MWp. The financing is repayable over 20 years benefitting from the UK’s feed in tariff regime.
Mike Weston, chief executive of PiP, says: “This is the first investment for the PiP Multi-Strategy Infrastructure Fund and marks another milestone in the development of the Pensions Infrastructure Platform. We are pleased to have been able to work with Novatio Capital to structure and execute a transaction that provides our investors with the secured, long-term, inflation-linked cash flows they are seeking to support their accrued pension payment obligations.”
Novatio Capital trading as The Renewable Financing Company acted as the arranger of the loan facility.


Justin May, executive director, Novatio Capital, says: “We are delighted to have worked with PiP on this important transaction for them. This is now the third solar rooftop financing we have arranged in the UK, in addition to the many ground mounted financings we have previously executed.”
