Schroders Greencoat hits landmark 2GW operational solar capacity in the UK
Schroders Greencoat, the specialist renewables manager of Schroders Capital, has surpassed 2GW of operational ground-mounted solar capacity in the UK, enough to power approximately 730,000 homes annually.
Schroders Greencoat, the specialist renewables manager of Schroders Capital, announces the significant milestone of surpassing 2GW in operational ground mount solar capacity[1] in the UK, equivalent to powering around 730,000 homes per annum[2]. Whilst also contributing to the UK’s clean energy goals, this landmark achievement helps provide resilient cashflows for underlying institutional, LGPS, Defined Contribution and wealth investors.
Forming part of Schroders Greencoat’s position as the UK’s largest manager of operating ground mount solar capacity[3], 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 diversified portfolio – representing around one fifth of the UK's total installed ground mount solar capacity[4].
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 c.£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 2GW 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.
Forming part of Schroders Greencoat’s position as the UK’s largest manager of operating ground mount solar capacity[3], 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 diversified portfolio – representing around one fifth of the UK's total installed ground mount solar capacity[4].
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 c.£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 2GW 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 & Storage, Schroders Greencoat, commented:
"As governments continue to pursue the journey to net zero carbon and energy security, solar has an increasingly important role to play. The UK represents a significant utility scale[5] 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.”
For further information, please contact:
Rachael Dowers, Media Relations Lead, Private Markets | +44 207 658 2086 | rachael.dowers@schroders.com
Jessye Brandon, PR Manager | +44 207 658 3789 | jessye.brandon@schroders.com
Note to Editors
About 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, and Madrid, as well as in New York and Chicago, and around £9.6 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 430 renewable infrastructure assets with an aggregate net generation capacity of over 7.4 GW*.
* As of 31 December 2024, Figures include two assets in construction or under forward purchase agreements. Inclusive of 125 assets for which management was transferred over from two other managers. Assets in APAC are advised by Schroders Greencoat and managed by Schroders Investment Management (Hong Kong) Limited.
Schroders Capital
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 delivering 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 $99.3 billion (£79.3 billion; €95.9 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 2024 (including non-fee earning dry powder and in-house cross holdings)
Schroders plc
Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £778.7 billion (€941.8 billion; $975.3 billion) of assets under management at 31 December 2024. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 6,000 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Schroder family continues to be a significant shareholder, holding approximately 44% of the issued share capital.
Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.
Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.
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.
[1] Total amount of generation capacity of solar panels installed on the ground.
With $99.3 billion (£79.3 billion; €95.9 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 2024 (including non-fee earning dry powder and in-house cross holdings)
Schroders plc
Schroders is a global investment manager which provides active asset management, wealth management and investment solutions, with £778.7 billion (€941.8 billion; $975.3 billion) of assets under management at 31 December 2024. As a UK listed FTSE100 company, Schroders has a market capitalisation of circa £6 billion and over 6,000 employees across 38 locations. Established in 1804, Schroders remains true to its roots as a family-founded business. The Schroder family continues to be a significant shareholder, holding approximately 44% of the issued share capital.
Schroders' success can be attributed to its diversified business model, spanning different asset classes, client types and geographies. The company offers innovative products and solutions through four core business divisions: Public Markets, Solutions, Wealth Management, and Schroders Capital, which focuses on private markets, including private equity, renewable infrastructure investing, private debt & credit alternatives, and real estate.
Schroders aims to provide excellent investment performance to clients through active management. This means directing capital towards resilient businesses with sustainable business models, consistently with the investment goals of its clients. Schroders serves a diverse client base that includes pension schemes, insurance companies, sovereign wealth funds, endowments, foundations, high net worth individuals, family offices, as well as end clients through partnerships with distributors, financial advisers, and online platforms.
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.
[1] Total amount of generation capacity of solar panels installed on the ground.
[2] Calculation based on 2700 kWh per average UK household consumption per annum (per Ofgem).
[3] As of January 2025.
[4] Based on publicly available government data which estimates total installed solar capacity of c. 17.8GW as at December 2024, of which c.55% (c.9.8GW) is expected to be ground mount solar.
[5] Large solar installations feeding power directly into the grid.
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Fund manager
Schroders Greencoat LLP
London, United KingdomSchroders Greencoat is a specialist investment manager dedicated to renewable infrastructure, with over £8.5 billion under management. We aim to provide strong risk-adjusted returns for our investors, while also delivering positive environmental outcomes.
Founded in 2009, Schroders Greencoat has built a reputation for unwavering delivery of our investment propositions, as well as for innovation – our offerings have become the model for an entire industry sector. Our investments span the globe, with local expertise in the Europe, the UK and the US, and are managed across a range of publicly listed vehicles*, private market pooled funds, co-investment vehicles and Separate Managed Accounts.
Renewable infrastructure is a multi-trillion dollar global sector that will grow by more than $100 billion a year over the next decade. Utilities, energy companies and infrastructure developers will build out the majority of this transition, but the scale of capital involved will require significant private financing. There exists a very large and growing pool of capital which is keen to own and operate these assets, but lacks the inhouse technical skills and sector expertise to manage the investments independently. Our purpose is to bridge this gap, by acting as a solution provider for investors, and providing the partnership, financial, technical and operational expertise to deliver secure incomes for our clients.
Acquired by Schroders plc in 2022, Schroders Greencoat is the fourth pillar of the group's private markets investment business, Schroders Capital. Schroders Capital through Schroders Greencoat has the ambition to become a global leader in infrastructure and the alternative investment industry more broadly.
* Schroders Greencoat is the investment manager for two listed vehicles, Greencoat UK Wind PLC and Greencoat Renewables PLC.
infrastructure
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