Octopus wins $242 mln National Grid pension mandate for renewables

LONDON, Jan 9 (Reuters) -

* Octopus Renewables said on Thursday it had won a corporate pension mandate from the National Grid UK Pension Scheme (NGUKPS) to invest 185 million pounds ($242 million) in UK solar and onshore wind assets.

* The fund will be called Renewable Energy Income Partnership III. Octopus Renewables, part of the Octopus Group, has more than 3.2 billion pounds of energy assets under management.

* “With predictable income, diversification and sustainable investment all at the forefront of institutional investors’ minds, this commitment by NGUKPS shows that our Renewable Energy Income Partnership series continues to provide an attractive solution for investors,” Alex Brierley, co-head of Octopus Renewables, said in a statement. ($1 = 0.7646 pounds) (Reporting by Nina Chestney; Editing by Alexander Smith)