Edinburgh investment giant Abrdn said it has invested £31 million on behalf of its strategic partner Phoenix Group in the refinancing of CORE Portfolio Investments Limited, a 36MW portfolio of ground mounted solar assets located in south and west England and Wales.

The financing was arranged by Finance Earth, the environmental impact investment advisor and lead advisor to CORE.

“CORE is a £50 million social investment partnership structured by Finance Earth, with investment from Big Society Capital and charitable trust Power to Change,” said Abrdn.

“CORE was established to acquire operational solar farms with the principal objective of turning these into community owned assets.

“CORE’s mission is to support the acquisition, restructuring and optimisation of community energy assets, whilst working to maximise the collective environmental, social and financial benefits for local communities where the assets are based.”