The pension fund of the city of Zurich (PKZH) is expanding its cooperation with the electricity companies of the canton of Zurich and is investing in the Portuguese solar park.
On April 28, 2022, PKZH acquired 49.5 percent of the Portuguese solar park “Cotovio” from strategic partner EKZ. The solar park is characterized by an impressive construction of more than 110,000 solar modules in the hilly area of the Portuguese coastal town of Portimão in the Algarve.
The installed capacity of the solar park is 48.9 megawatt hours. The annual production can supply around 20,000 households. In July 2021, PKZH became a partner of the canton of Zurich electricity company (EKZ) for the newly constructed solar power plant “Algibicos” in southern Spain, also with a stake of 49.5 percent.
Investing in a renewable energy future
By investing in renewable energies, EKZ and PKZH are making a contribution to a CO2-free energy future.
In addition, especially in the course of the geopolitical tensions, the pressure for energy production to be largely independent of fossil fuels has become more significant in order to achieve energy independence from Russia in addition to the climatic goals.
For PKZH, systems in the field of renewable energy are an important element of the sustainability strategy with immediate, stable returns.
Within the asset structure of the PKZH, the infrastructure investments generate stable income over the target period, which contributes to the long-term investment horizon of the investments in the financing of the claims of their insured.
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