GLIL Infrastructure LLP (“GLIL”), the £4.1bn UK-based infrastructure investment fund, and Bluefield Solar Income Fund Limited (“Bluefield Solar” or “BSIF”), the London-listed income fund (LON: BSIF), have invested into new solar energy assets as third stage in their strategic partnership.

The investment – which has been made through Lyceum Solar, the joint venture created by the two organisations – will see GLIL acquire a 75% stake in a c.250MW portfolio of seven solar assets.

The assets span southern and central England and include one operational solar asset, one under- construction battery energy solar system (BESS) and four ready-to-build (RtB) solar opportunities. All sites have grid connections, and several have secured Contract for Difference (CfD) contracts under AR5 and AR6.

GLIL’s strategic partnership with Bluefield Solar was formed in December 2023 when the two funds announced the acquisition of 58 operational UK projects. That deal saw GLIL invest £200 million, and Bluefield Solar invest £20 million in combined 247MW projects.

The second stage, announced in July 2024, saw GLIL and Bluefield Solar inject a further £141 million. This third stage creates a renewables portfolio with a total capacity of 626MW.

Jing Zhao, Deputy Portfolio Manager at GLIL Infrastructure, said: “This completes what is now one of the largest and most diverse solar and battery portfolios in the UK.

“Our partnership with Bluefield Solar is just one of the ways that we’re securing UK opportunities in infrastructure that will deliver stable, inflation-linked returns to our members, while also supporting economic growth and job creation.

“These assets also strongly align with our strategy to increase our exposure to development and construction opportunities, which allows us to really add value by leveraging our experience in operational energy.”

Neil Wood, Partner at Bluefield Partners LLP, the Investment Adviser to Bluefield Solar, added: “In just 18 months Bluefield, with GLIL, has built one of the premier solar and battery portfolios in the UK with an energy capacity of 626 MWs. This transaction underscores the growing role of renewables as core infrastructure assets in the UK.

“By combining long-term capital with Bluefield’s operational expertise, we are delivering scalable solar and storage projects that enhance grid resilience and support energy independence. For Bluefield Solar, this partnership reflects a commitment to disciplined growth, inflation-linked returns, and capital deployment into assets that align with national priorities for decarbonisation, industrial productivity, and energy security.”

GLIL, which was established in 2015, is a partnership of UK pension funds, specially designed to help pension fund members tap into the stable, inflation-linked returns that infrastructure investment offers.

A decade on, the open-ended fund has secured £4.1 billion in committed capital and built a team of more than 30 infrastructure investment professionals. As of 31 December 2024, it has deployed more than £3.2 billion into a portfolio of 14 directly managed assets spanning renewable energy, utilities, ports, logistics, trains, hospitals and schools.

GLIL invests on behalf of Local Government Pension Scheme funds and pools including Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund, and West Yorkshire Pension Fund, as well as Nest, the government-established workplace pension provider.