November 16, 2021 Read More →

MassMutual to partner with UK’s Low Carbon for power production

UK-based Low Carbon and the Massachusetts Mutual Life Insurance Company (MassMutual) have joined forces to build a global renewable energy independent power producer targeting 20GW by 2030.

The partnership will also support Low Carbon’s ambition to raise third-party investment funds with the aim of directing capital into large-scale renewable energy infrastructure projects in the UK, Europe and selected global markets.

It will focus on international projects leveraging proven technologies including solar, storage, onshore and offshore wind and waste to energy.

The deal marks MassMutual’s first European renewable energy partnership as it seeks to transition its $222bn assets under management investment portfolio to net zero by 2050.

Low Carbon chief executive and founder Roy Bedlow said: “Climate change mitigation requires the accelerated deployment of renewable energy at scale over the next decade.

[Staff Report]

More: UK, US partnership eyes 20GW clean power goal

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