Standard Life completes first £61m MA-eligible infrastructure financing

Standard Life today completed a £61m infrastructure financing transaction secured against the Snetterton Renewable Energy Plant in Norfolk, a biomass power facility led by Octopus Capital. The structure is intended to allow pension and insurance capital to reach infrastructure assets in a matching adjustment-eligible format.

Insurance Asset News reported on 1 August that Standard Life had completed the deal; the update now adds the investment structure and how the insurer intends to use it. Standard Life describes the transaction as its first investment using this financing format and says it can be scaled across a broader pipeline of infrastructure assets, giving it a repeatable route into similar long-dated projects.

The asset fit matters because matching adjustment investing depends on predictable, long-dated cashflows that align with insurers’ liability profiles. Standard Life said the investment is backed by Pension Risk Transfer and Individual Annuity premiums and is designed to deliver long-term, predictable cashflows for customers, placing the financing directly within the asset-liability matching work of its annuity book.