Schroders Greencoat hits landmark UK operational solar capacity

Forming part of Schroders Greencoat’s position as the UK’s largest manager of operating ground mount solar capacity, this milestone has been facilitated by the recent energisation of its Eynsham solar site, located in West Oxfordshire. With over 200 operational solar projects across the UK, from Southern England to Scotland and Northern Ireland, Schroders Greencoat oversees a high quality and diversi-fied portfolio – representing around one fifth of the UK’s total installed ground mount solar capacity.

Schroders Greencoat is one of the largest pureplay renewable energy and energy transition infrastructure managers globally with active management strategies across the clean energy and asset-lifecycle spectrum – including wind, solar, bioenergy, and transition investments. Its growth in the UK solar market stretches back to the UK’s first commercial scale solar ventures. In 2016, what was previously Greencoat Capital launched its first solar fund, which was fully invested by 2017 alongside a single institutional investor. This was followed by the successful launch of its second solar vehicle in 2017, which closed in 2023 with total fund commitments of approximately £1.4 billion.

Schroders Greencoat solidified its position in the UK solar market with the completion of Toucan Energy, the largest ever operating ground mount solar transaction in the UK when acquired last year. Consisting of 53 operating solar farms across England, Wales and Northern Ireland, the portfolio has a combined capacity of 513.3 MWp – powering the equivalent of approximately 184 000 homes. The deal included a landmark financing with long-standing Schroders Greencoat managed funds, as well as a significant portion funded by six local Government Pension Schemes (Avon, Cornwall, Devon, Gloucestershire, Oxfordshire, and Wiltshire) and co-investor, Tokyo Century.

Complementing its portfolio of developments, construction, and operational assets, Schroders Greencoat continues to invest in the energy transition with an increased focus on earlier stage opportunities as well as into newer markets and technologies – building on a key part of its strategic intention to further diversify across the risk/return spectrum and build out its portfolio of higher returning assets.

In 2024, the team continued to acquire pre-construction assets from its distribution solar development partner, Innova Renewables, such as the recent purchase of the 27.5 MW Ducklington solar project in Oxfordshire and the 28.5 MW Stokeford solar project in Dorset. Schroders Greencoat and Innova separately have a joint venture, ISG Renewables. The platform has to date been seeded with solar assets including Carn Nicholas (10 MW), Bicker Fen (22.6 MW), and Newbold Pacey (27.8 MW).

The notable achievement of 2 GW in operation is supported by the expertise of a dedicated solar and storage team of more than 25 professionals in investment, financial, and technical asset management. Taking a dynamic approach to enhancing Schroders Greencoat’s solar and storage portfolio, the team focus on transitioning the operation of photovoltaic assets from short to long-term capital, including the active management of development risk and the construction of new assets, alongside protecting the long-term value of operational assets.

Lee Moscovitch, Partner and Co-Head of Solar and Storage, Schroders Greencoat, commented: “As governments continue to pursue the journey to net zero car-bon and energy security, solar has an increasingly important role to play. The UK represents a significant utility scale solar market in Europe, creating compelling investment opportunities for private capital.

“Our solar team is leading the way in solar PV investment as well as asset management and long-term value enhancement. Active management is crucial for achieving positive outcomes for our clients and has played a vital role in establishing our long-standing reputation as sector specialists and a trusted partner.

“We are proud to hit this milestone. We look forward to building on this strong trajectory of growth and accelerating the UK’s decarbonisation journey.”

Matt Yard, Co-Head of Solar & Storage, Schroders Greencoat, added: “Our long-standing partnerships and milestone acquisitions are testament to our dedication to deliver long-term, inflation-linked cashflows for our investors while making meaningful contributions to the clean energy landscape.

“With a robust network spanning stakeholders across the industry, including utilities, project developers, power offtakers and government, we’re uniquely placed to manage assets from late-stage development through to construction and energisation. We’re excited to continue exploring new opportunities in the solar and storage space across the full development, construction and operation lifecycle.”

 

 

 

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