Schroders Greencoat, the renewables manager arm of Schroders Capital, has surpassed 2GW of operational ground-mount solar capacity in the UK.
The milestone was reached with the energisation of the Eynsham solar site in West Oxfordshire.
Greencoat, the renewable and energy transition infrastructure manager of UK-headquartered asset management giant Schroders, has over 200 operational solar PV developments across the UK.
At the beginning of 2024, the firm completed the largest ever operational ground-mounted solar transaction in the UK, taking on a 513.3MWp portfolio from Toucan Energy.
Earlier this year, Greencoat acquired the 27.5MW Ducklington solar power plant and in 2024 the 28.5MW Stokeford solar project in Dorset from Innova Renewables. The two companies are partnered, and Innova has sold five pre-construction solar projects to Greencoat, totalling 110MWp capacity.
Separately, the two companies have a joint venture, ISG Renewables, which has been seeded with solar assets, including the 22.6MW Bicker Fen solar power plant. It was established in 2023 and aims to finance and develop 5GW of renewable energy capacity by 2028.
In July, Greencoat acquired a 110MW UK solar portfolio, comprised of three assets across England, from Metlen Energy and Metals (formerly Mytilineos). Less than a month later, the fund completed the purchase of the 80.5MWp South Meath Solar Farm from Statkraft, and later in August 2024 acquired the 49.9MW Tiln Farm solar project from Lightsource bp.
Greencoat said its team focuses 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 at Schroders Greencoat, commented: “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.”
According to the company’s own market research, Greencoat is the UK’s largest manager of operating ground-mount solar capacity. It also manages wind, bioenergy and transition investments.
Greencoat’s 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.
