The renewable investment manager reached the milestone with the recent energisation of the Eynsham solar site in West Oxfordshire.
With over 200 operational solar projects across the UK, from southern England to Scotland and Northern Ireland, Schroders Greencoat’s portfolio represents around one fifth of the UK’s total installed ground mount solar capacity.
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 launch of its second solar vehicle in 2017, which closed in 2023 with total fund commitments of around £1.4bn.
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 513.3MWp – 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 says it is continuing to invest in the energy transition with an increased focus on earlier stage opportunities as well as into newer markets and technologies.
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 27.5MW Ducklington Solar project in Oxfordshire and the 28.5MW 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 (10MW), Bicker Fen (22.6MW), and Newbold Pacey (27.8MW).
Partner and co-head of solar and storage at Schroders Greencoat Lee Moscovitch said: “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 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.”
