Established investment in Renewable Technologies

L1 Renewables provides financing in the renewable energy sector managing a loan portfolio of over £500m across a range of renewable energy technologies and project lifecycles.

L1 Renewables is a wholly owned subsidiary of Universities Superannuation Scheme Limited (USSL), the sole corporate trustee of the Universities Superannuation Scheme (USS), one of the largest pension schemes in the UK.

Established in 1974, USS provides pensions for universities and other higher education institutions in the UK. USS is supervised, in terms of its conduct of operation and financial reporting by the Pension Regulator.

L1 Renewables has appointed USS Investment Management Limited (USSIM) as its investment manager. USSIM is a wholly owned subsidiary of USSL and is authorised and regulated by the Financial Conduct Authority. L1 Renewables is a lender to both smaller sophisticated borrowers and large scale portfolio’s to provide long term financing solutions in an ever changing market. L1 Renewables is not authorised by the Financial Conduct Authority. See some investment examples.

Management & Governance

Investment Examples

Case Study No.1
- Portfolio of small–medium size wind turbines (>130 MW) spread across sites in England and Scotland
- £100m senior debt facility to refinance the development financing
- 18-year term extended into the merchant tail
- Debt sized based on long-term net P90 energy estimates (after availability) and FiT-supported revenue
Case Study No.2
- Acquisition of c.£250m portfolio of renewable energy loans comprising of Energy from Waste, Biomass, Onshore Wind and Energy Efficiency technologies
- Projects range from early-stage construction to operational assets
- Underlying assets spread across England, Wales and Scotland
- Projects backed by international sponsors as well as local authorities
Case Study No.3
- £100m preferred equity investment in Next Energy Solar Fund (LSE: NESF)
- Solar projects comprised of development and operational solar plants with a total capacity of c.755MW
- Projects spread across the UK & Western Europe and supported by a range of diversified contractors, suppliers and off takers

Technologies

L1 Renewables provides a flexible approach to financing across a number of different technologies:

Wind Farms
Harvesting onshore and offshore wind energy to generate electricity.
Energy Efficiency
LED street lighting to reduce energy consumption.
Biomass
Generation of energy via burning of organic materials.
Energy from Waste
Energy generation and sustainable waste management services for local authorities and businesses.
Solar
Radiant light and heat from the sun is harnessed to generate electricity.
Tidal Energy
Hydropower that converts the energy obtained from tides into electricity.