Renewables investment company Schroders Greencoat has acquired an English solar portfolio from Greek multinational METLEN Energy & Metals.
The 110MWp trade comprises solar operating assets in Lincolnshire, Worcestershire and Nottinghamshire.
Details Of The Acquisition
The portfolio transfer expands Schroders Greencoat’s UK solar assets. This is with the specialist manager already being the largest ground-mounted solar farm manager nationwide.
This move follows the company’s acquisition of the approximately £700 million Toucan Energy in January.
The newly acquired assets from METLEN Energy & Metals are located in:
- Gorse Lane, Lincolnshire
- Defford, Worcestershire
- Watnall, Nottinghamshire
The three solar assets, with a collective capacity of around 110 megawatts peak, could generate sufficient energy to power around 41,300 homes annually if used for said purpose.
Schroders Greencoat’s ground mount solar farm management now features a total capacity of about 1.9 Gigawatt peak.
Company partner Lee Moscovitch praised the movie as solidifying Schroders Greencoat’s position as a lead player in the solar sector. Moscovitch also expressed how the acquisition highlights the company’s commitment to ensuring that investors enjoy stable and sustainable returns.
The acquisition comes at a time when it is predicted renewable investments are expected to surge per a recent survey. Also, the new Labour government is eyeing a major national energy transformation with the goal of 100% clean and affordable electricity by 2030.