Dutch pension fund ABP will invest over €330m in three solar parks in the United States, the fund recently announced.

The solar parks are based in the states of California and Nevada, and shall provide energy to 370,000 households.

ABP will invest in the Moapa solar park in Nevada, the first solar park that will be completely built in an Indian reservation. The solar park was completed by the end of 2016. Aside from solar energy, it also provides hundreds of jobs for the local community.

Furthermore, the pension fund will finance the expansion of Mount Signal 3, one of the largest solar parks in the world. It also invests in California Flats, a prospective solar park that is being developed in two phases. The park is located near San Luis Obispo, and will have a capacity of 381 MW once completed.

Commenting, ABP chair Corien Wortmann–Kool said: “This investment matches our ambition to increase by fivefold our investments in renewable energy, such as solar energy, by 2020. ABP wants to contribute to achieving the climate goals of Paris. All three solar parks have signed long-term contracts with energy companies. They will therefore deliver a long-term and stable return for our members.”

Share Story: