National Grid U.K. Pension Scheme, Binfield, England, committed £185 million ($240 million) to U.K. solar and onshore wind fund Octopus Renewable Energy Income Partnership III managed by Octopus Renewables, a spokeswoman confirmed.
Octopus has discretion in managing the mandate for the £20 billion pension fund.
"We are pleased to have onboarded Octopus and look forward to working together on this important asset class," said Kilian Thevissen, investment manager at the pension fund, in a news release.
Octopus Renewables has more than £3.2 billion in energy assets under management.
