Schroders Greencoat, the renewables and energy transition infrastructure division of Schroders Capital, has completed the acquisition of a 110 megawatts peak solar portfolio in the UK from METLEN Energy & Metals.
The portfolio comprises three operational solar assets at Gorse Lane in Lincolnshire, Defford in Worcestershire, and Watnall in Nottinghamshire.
The company's managed UK solar capacity in the UK now stands at 1.9GW.
In early 2024, Schroders Greencoat also acquired Toucan Energy in the largest operational solar portfolio transaction in the UK to date.
Partner at Schroders Greencoat partner Lee Moscovitch stated: “We are pleased to add these assets to our growing UK solar portfolio. This acquisition underscores our commitment to delivering stable and sustainable returns to our valued investors.
“As the renewable energy industry works towards achieving the UK government's ambitious 2035 solar targets, this transaction further solidifies our position as a leading player in the sector.”
In April 2023, Schroders Greencoat and Innova Renewables formed a partnership to develop and manage solar and energy storage projects in the UK.
Through the alliance, Schroders Greencoat-managed funds and Innova established ISG Renewables, a platform aimed at enhancing the UK's energy security and advancing its net zero strategy.
The partnership between Schroders Greencoat and Innova aims to develop and finance 5GW of renewable energy capacity up to 2029.
