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A Malaysian public sector pension fund Kumpulan Wang Persaraan (KWAP) has agreed to buy a 45% stake in the UK solar portfolio company Vortex Solar Investments.
Vortex Solar Investments owns a 365MW portfolio of UK solar plants.
KWAP is to pay £67.5 million ($90.2 million) for the 45% stake. KWAP is Malaysia’s second largest pension fund with $30 billion under management. The transaction is due to complete in the coming weeks.
KWAP’s CEO Wan Kamaruzaman bin Wan Ahmed commented: “This marks our first direct investment in the renewable energy sector, which strategically...