Octopus Investments Limited, the specialist alternatives manager has announced the successful close of the energy fund​ Renewable Energy Income Partnership at c.£300 million. The fund is backed by a large institutional investor. The fund will invest in operational renewable energy power plants in the United Kingdom.

Octopus Investments is a leading investor in renewable energy in the UK, with over £2.1 billion AUM in generating assets in solar and onshore wind as well as other technologies such as gas-fired reserve power, biomass and landfill gas.

The asset manager is developing a vertically integrated energy company through its three-pronged strategy of investment in renewable generating assets, energy optimisation technologies and the development of Octopus Energy, a market-disruptive energy supplier to domestic and SME customers.

Octopus expects the fund to grow over time as it originates U.K. and European renewable energy opportunities beyond the initial Pipeline Assets.

Alex Brierley, Octopus’ Investment Director that led the fundraise, commented:

"In closing the Fund, Octopus takes the next step in its consolidation of the UK renewable energy asset class. We are delighted to have, again, enabled a material source of new capital into the U.K. renewable energy market which confirms our position as the leading manager in this space."