The UK has an extensive power network system in place, is a world-leader in computing, science, engineering and technology, and has access to a sophisticated financial services sector. The UK is now uniquely placed to become leaders in the clean energy technologies of the future, as well as pioneers in research and engineering.  

Legal & General invest long-term capital into the evolving landscape of the energy sector in order to mature technologies, accelerate progress to low cost, low carbon economy and reduce the cost of energy for consumers. Investment focus in this sector to date includes renewable wind and solar power generation, more energy efficient houses and buildings for our cities, and innovative technologies to control, manage and store energy in order to make the most efficient use of the various energy supply resources available.

Our investments include a joint venture with NTR Plc, an Irish renewable energy company and leading solar and wind generation investor focused on Ireland and the UK, and Oxford PV. We also recognise the complications associated with the variable nature of renewables, and our investment in Upside Energy, who focus in managing batteries and power storage devices, shows our commitment to invest in innovative solutions to these challenges.

Legal & General is in a unique position; we can invest throughout the future energy system, with our proximity to consumers, local housing and property developments in UK cities as well as large scale capital to deliver solutions at a regional and national scale. Our integrated approach ensures we are taking an overview of the interests of short-term growth, as well as the opportunity for long-term sustainable clean energy generation. With our investees, we have the extraordinary potential to accelerate decarbonisation at a lower cost and with wider benefits for all consumers, by reducing emissions and pollution to make our future cities healthy and liveable.

Our projects

Oxford PV

In November 2016, LGC invested £2.5m in Oxford Photovoltaics Limited (Oxford PV), a spin-out from the University of Oxford, to commercialise perovskite, a low-cost, highly efficient solar cell absorber material that can vastly improve a solar panel’s ability to convert sunlight into electricity. The business was founded in 2010 and its co-founder was amongst the first in the world to recognise the potential of perovskite. Oxford PV has exclusively licensed its rapidly growing portfolio of fundamental intellectual property and is working towards the commercialisation of perovskite technology which our investment will help to finance.

Since we invested, Oxford PV has set several world records for the efficiency of its solar PV cells and we believe that when produced at industrial scale, this technology will make solar power cheaper and more widely available across the world.



Pod Point

In February 2019, LGC acquired c.13% stake in Pod Point, one of the UK’s largest electric vehicle (EV) charging infrastructure providers. Less than 1% of the cars on the road today are EVs but this figure is expected to rise significantly over the next decade, driven by factors such as increased awareness of the health impacts of air pollution from petrol and diesel cars, falls in the price of electric cars and an increase in their driving range. As demand grows, so does the need for affordable, easy-to-use and easy-to-access charging infrastructure.

Pod Point is one of the UK’s leading providers of EV charging solutions for both homes and businesses, with more than 60,000 charge points across the UK and Norway. Legal & General’s investment in Pod Point will support their strategic expansion and the many drivers now making the switch to EVs.