PFA Pension, a leading Danish pension company, today announced the acquisition of three solar parks in England developed by European Energy, a Danish developer of renewable energy projects.

The investment is PFA Pension’s first investment in solar energy as well as the first direct investment with a 100% PFA ownership. The acquisition is part of a new strategy in PFA Pension that focuses on direct investments in infrastructure and renewable energy projects.

The three solar farms have a combined capacity of 14.75 MW, and the transaction also includes an option to acquire three additional wind farms that will bring the joint capacity of the portfolio to 29.36 MW. One of the solar farms has the additional feature of providing electricity to the Nissan car factory that manufactures the electric car Nissan Leaf. Completion of the transaction is planned to take place in H2 2016.

IFLR1000 has ranked Bruun & Hjejle in Tier 1 within Energy and Infrastructure in the recently published 2016 guide. A highly focused effort from the younger partners of the team has been an influential factor in the Tier 1 ranking and the development of the practice, placing it among the absolute best when it comes to advising on and handling cases within Energy and Infrastructure.

PFA Pension was founded in 1917 as an independent company by a number of labour organisations, with the sole purpose of ensuring a financially secure future for the employees and their families. PFA has approximately 1.1 million individual customers from a wide range of the largest companies and organisations in Denmark.

European Energy develops, finances and builds wind- and solar farms. Since 2004, the company has developed 59 onshore wind farms and 27 photovoltaic solar plants corresponding to a total investment of more than EUR 863 million.

Bruun & Hjejle acted as legal advisor to PFA Pension.