UK insurance group Prudential has raised its bet on the future of green energy with a planned 150m euro investment in Italian solar farms. The move is a departure for the UK’s largest insurer by market value, which has a string of renewable energy investments in its home country, including the planned Swansea Bay tidal power scheme. The investment arm of Prudential in the UK has contributed 150m to a new private equity fund set up by NextEnergy Capital, a specialist solar investor and asset manager. The fund, which has achieved its initial close with Prudential’s investment, will aim to buy Italian solar power plants.
FT 13th June 2016 read more »