Schroders Greencoat expands UK solar portfolio with 110MWp acquisition from METLEN Energy & Metals
Schroders Greencoat, the specialist renewables and energy transition infrastructure manager of Schroders Capital, has announced the successful acquisition of a UK-based solar portfolio from METLEN Energy & Metals (formerly MYTILINEOS), a multinational industrial and energy company based in Greece.
The transaction, on behalf of one of its solar-focused private asset vehicles, strengthens Schroders Greencoat’s position as the largest manager of operating ground mount solar farms in the UK[1] which now totals approximately 1.9 GWp[2].
The portfolio consists of three operating solar PV assets including Gorse Lane in Lincolnshire, Defford in Worcestershire, and Watnall in Nottinghamshire. Combined, they have a capacity of c.110 MWp[3], powering the equivalent of approximately 41,300 homes[4] per year.
Lee Moscovitch, Partner at Schroders Greencoat, said:
“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.”
Earlier this year, Schroders Greencoat also acquired Toucan Energy, the largest operational solar portfolio traded in the UK, further supporting its leadership position in this space.
[1] Based on Schroders Greencoat market analysis
[2] Gigawatt peak
[3] Megawatt peak
[4] Using the 2700kWh/household which is the latest OFGEM estimate of typical annual electricity use for a medium sized home.
For further information from Schroders Greencoat, please contact:
**based on Schroders Greencoat market analysis Schroders Greencoat Schroders Greencoat LLP, formerly Greencoat Capital LLP, is a specialist manager dedicated to the renewable and energy transition infrastructure sector. With teams in London, Dublin, Frankfurt, Copenhagen, Switzerland and Madrid, as well as in New York and Chicago, and around £10 billion under management*, Schroders Greencoat is one of the largest dedicated managers in Europe. It was founded in 2009 and currently has fund mandates with strategies investing into wind, solar, bioenergy and energy transition in the UK, Europe and the United States. In total, Schroders Greencoat manages over 325 renewable infrastructure assets with an aggregate net generation capacity of over 6.0 GW*. For more information, please visit https://www.schrodersgreencoat.com. * As of 31 December 2023. Schroders Capital Schroders Capital provides investors with access to a broad range of private market investment opportunities, portfolio building blocks and customised private market strategies. Its team focuses on targeting best-in-class, risk-adjusted returns and executing investments through a combination of direct investment capabilities and broader solutions in all private market asset classes, through comingled funds and customised private market mandates. The team aims to achieve sustainable returns through a rigorous approach and in alignment with a culture characterised by performance, collaboration and integrity. With $93.7 billion (£73.5 billion; €84.8 billion)* assets under management, Schroders Capital offers a diversified range of investment strategies, including real estate, private equity, secondaries, venture capital, infrastructure, securitised products and asset-based finance, private debt, insurance-linked securities and BlueOrchard (Impact Specialists). *Assets under management as at 31 December 2023 (including non-fee earning dry powder and in-house cross holdings) Schroders plc Schroders is a global investment management firm with £750.6 billion (€866.2 billion; $956.9 billion) assets under management, as at 31 December 2023. Schroders continues to deliver strong financial results in ever challenging market conditions, with a market capitalisation of circa £7 billion and over 6,400 employees across 38 locations. Established in 1804, the founding family remains a core shareholder, holding approximately 44% of Schroders’ shares. Schroders has benefited from a diverse business model by geography, asset class and client type. It offers innovative products and solutions across four core growing business areas; asset management, solutions, Schroders Capital (private markets) and wealth management. Clients include insurance companies, pension schemes, sovereign wealth funds, high net worth individuals and foundations. Schroders also manages assets for end clients as part of its relationships with distributors, financial advisers and online platforms. Schroders aims to provide excellent investment performance to clients through active management. It also channels capital into sustainable and durable businesses to accelerate positive change in the world. Schroders’ business philosophy is based on the belief that if we deliver for clients, we will deliver for our shareholders and other stakeholders. Issued by Schroder Investment Management Limited. Registration No 1893220 England. Authorised and regulated by the Financial Conduct Authority. For regular updates by e-mail please register online at www.schroders.com for our alerting service. About METLEN Energy & Metals: METLEN Energy & Metals - evolution of MYTILINEOS Energy & Metals - is a multinational industrial and energy company, a leader in the metallurgy and energy industries, focused on sustainability and the circular economy. The Company is listed on the Athens Stock Exchange, with a consolidated turnover and EBITDA of €5.492 billion and €1.014 billion, respectively. METLEN is a reference point for competitive green metallurgy at the European and global level, whilst operating the only vertically integrated bauxite, alumina and primary aluminium production unit in the European Union (E.U.) with privately owned port facilities. In the energy sector, METLEN offers comprehensive solutions, covering thermal and renewable energy projects, electricity distribution and trading, alongside investments in grid infrastructure, battery storage, and other green technologies. The Company is active in the markets of all five continents, in 40 countries, adopting a full-scale synergetic model between the Metallurgy and Energy Sectors, while undertaking end-to-end development of major energy infrastructure projects. |