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Santander in £1.3bn renewable energy venture

Santander and two Canadian pension funds have set up a £1.3bn London-based firm to manage and invest in renewable energy. Owned equally by Santander, Ontario Teachers' Pension Plan and the Public Sector Pension Investment Board, the firm says it is committed to a long-term growth strategy designed to make it one of the largest renewable energy and water investors in the world. The assets in operation, construction or under development have a total capacity of over 1,400 megawatts and are located across seven countries: Brazil, Mexico, Uruguay, Italy, Portugal, Spain and the UK. Santander is putting the Wandylaw wind farm in Northumberland and other solar, wind and water assets into the business. Juan Andres Yanes, Senior Executive Vice President, Banco Santander S.A, said: 'We are confident that this venture represents a significant milestone for Santander to increase its footprint in the renewable and water infrastructure industry.'

 

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