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Winds Of Change: Walney Wind Farm Investment Completed By Legal And General

With over £951bn in total assets management, Legal & General is one of the UK’s leading financial services groups and a major global investor. The company has announced that it has provided close to £300m of long-term acquisition debt in support of Danish pension funds, PKA and PFA consortium’s approx £2bn purchase of 50% of Walney Extension from Ørsted (the former Dong Energy). Walney Extension, which is currently under construction, will be the world’s largest offshore wind farm with a capacity of 660 megawatts (MW), providing enough power for over 590,000 homes. Charles-Henry Lecointe, Senior Investment Manager, LGIM Real Assets stated that the move was part of the company’s commitment of “investing in key UK infrastructure assets which will have a major impact on stimulating economic growth while ensuring long-term cash flow for pension funds.”

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