Schroders Greencoat Boosts UK Solar Portfolio with 110MWp METLEN Acquisition

23 July, 2024: Schroders Greencoat, the renewables and energy transition infrastructure manager of Schroders Capital, has announced the acquisition of a UK-based solar portfolio from METLEN Energy & Metals (formerly MYTILINEOS), a multinational industrial and energy company from Greece.

This acquisition, made on behalf of one of its solar-focused private asset vehicles, bolsters Schroders Greencoat’s position as the largest manager of operating ground mount solar farms in the UK, now totaling around 1.9 GWp. 

The portfolio includes three operating solar PV assets: Gorse Lane in Lincolnshire, Defford in Worcestershire, and Watnall in Nottinghamshire. Together, these assets have a combined capacity of approximately 110 MWp, sufficient to power around 41,300 homes annually.

In the company’s press release, 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.

This acquisition not only enhances Schroders Greencoat's solar capacity but also reinforces its position as a leading investor in renewable energy infrastructure. The company continues to seek opportunities to invest in and develop renewable energy assets, contributing to the global push for sustainable energy solutions.