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New solar fund for private investors

Goldfield Partners has launched a fund to target those ultra-high net worth and self-invested personal pension investors who wish to diversify their portfolios with green energy.

Called the Solar Green Energy Fund, the new unit trust, which has already got £50m worth of money behind it, aims to provide a return to investors of between 6 per cent and 8 per cent a year, Goldfield business development executive Darren Litherland told the FTAdviser.

Mr Litherland said this pension fund would invest exclusively in solar PV systems that are installed and fully operational on the UK mainland.

He said that, mostly, these solar PV systems have been installed on both private and housing association domestic properties in the UK. The home owners enjoy free renewable energy while the investors benefit from the feed-in-tariff payments, which are index linked to the retail prices index.

The income will be paid to investors yearly in arrears, and the length of the investment term is up to 25 years although investors can leave the fund at any time, subject to the usual conditions.

The minimum fund size is £1m; the maximum is £50m.