Harnessing the power of UK offshore wind

Words by: Cushon

Published on 16th December 2025

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3 min read

We invest in renewable energy infrastructure as part of Cushon’s Sustainable Investment Strategy, recognising that the transition to clean energy is both essential for the planet and a significant investment opportunity. 

Our stake in the West of Duddon Sands offshore wind farm demonstrates how pension funds can support the UK’s energy independence while aiming to deliver strong returns for members.

What's the investment?

Located in the Irish Sea, 14km southwest of Walney Island in Cumbria, the West of Duddon Sands Offshore Wind Farm has been generating clean electricity for over a decade. 

We own a 24.5%[¹] stake in this 390MW facility, partnering with Ørsted, a global leader in offshore wind development. This isn’t a speculative bet on future technology – it’s an operational asset with a proven 10-year track record of reliable performance. 

The wind farm’s 108 turbines harness the strong, consistent winds of the Irish Sea, generating enough clean electricity to power approximately 270,000 homes each year. 

The location off the Cumbrian coast takes advantage of some of the UK’s best wind resources, while the established operational history provides confidence in long-term performance and returns. 

What's the impact on society?

The production and use of fossil fuels account for nearly 75% of global carbon emissions. Every kilowatt-hour generated by the West of Duddon Sands wind farm is a kilowatt-hour that doesn’t come from burning fossil fuels. This directly contributes to the UK’s net-zero goals, limits climate change, and helps reduce our reliance on imported energy. 

The wind farm supports regional development in Northwest England, bringing investment and expertise to the area while contributing to the UK’s position as a global leader in offshore wind technology. 

Beyond the environmental benefits, offshore wind strengthens the UK’s energy security. Domestic renewable generation reduces our exposure to volatile international energy markets and provides price stability for consumers. 

The facility also supports the broader offshore wind supply chain, from manufacturing and installation to ongoing maintenance operations, creating jobs and economic opportunities across the region. 

Why is your money being invested this way?

The energy transition is one of the defining economic shifts of our time. Countries around the world are moving away from fossil fuels towards renewable energy, creating massive investment opportunities for those positioned to benefit. 

Our West of Duddon Sands investment is delivering expected average annual returns of approximately 12% – strong performance that reflects both the established operational track record and the growing value of clean energy assets. 

Offshore wind offers particularly attractive fundamentals: predictable wind resources, long-term government support through renewable energy certificates, and inflation-linked revenue streams that protect against rising costs. 

By partnering with Ørsted, we gain access to world-class expertise in offshore wind development and operations, ensuring our investment is managed by leaders in the field who understand how to maximise both performance and returns. 

Important information on case studies: The case studies provided in this document are for illustrative purposes only and do not purport to be recommendation of an investment in, or a comprehensive statement of all of the factors or considerations which may be relevant to an investment in, the referenced securities. The case studies have been selected to illustrate the investment process undertaken by the Manager in respect of a certain type of investment, but may not be representative of the Fund's past or future portfolio of investments as a whole and it should be understood that the case studies of themselves will not be sufficient to give a clear and balanced view of the investment process undertaken by the Manager or of the composition of the investment portfolio of the Fund now or in the future.

[¹] As of September 2025.