News in brief: 17 September

Dutch pension fund, ABP, has acquired a major interest in Vasa Vind, a Swedish company that develops, build and manages wind farms, through the executor APG.

ABP stated that the investment fits in with its policy to accelerate the energy transition and achieve climate-neutral investment portfolio by 2050. With this investment by APG, a 100 per cent interest has been taken in the company, with a “large part” of this for the account of ABP. The wind farms in Sweden managed by Vasa Vind provide a capacity of approximately 525 megawatts, equivalent to the electricity that approximately 325,000 Swedish households consume annually.

M&G has announced the formation of a partnership with Ardcairn Capital, a new development finance lender in Ireland.

The partnership is designed to make “a significant amount” of capital available to small- and medium-sized residential developers to deliver housing projects, with an ambition to provide funding for over 10,000 homes in the next five years. The partnership is formed by M&G Catalyst strategy, which is investing up to £5bn into privately-owned businesses where capital is required to drive innovation and impact to create a more sustainable world.

Denmark’s AP Pension has committed to using CO2-reduced cement in all future building projects.

Its subsidiary, AP Ejendomme, is one of Denmark’s largest private builders and wants to be “at the forefront” of the transition to more sustainable construction. Therefore, AP Ejendomme is now aiming for a conversion to the CO2-reduced cement FutureCEM, produced by Aalborg Portland, in all future buildings. The switch will provide an up to 30 per cent lower carbon footprint.

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