Schroders Greencoat to buy 283MWp solar portfolio from METLEN

Schroders Greencoat, a renewable concern manager and portion of Schroders Capital, has agreed to get a 283-megawatt-peak (MWp) star photovoltaic (PV) portfolio from METLEN Energy & Metals.

The portfolio, comprising 7 projects successful England and Scotland, includes 143MW already operational and different 140MW nether construction, with completion expected by the 2nd 4th of 2026.

The projects are acceptable to proviso powerfulness to astir 89,333 homes and payment from semipermanent offtake agreements with companies specified arsenic Vodafone and Engie.

The transaction marks a continuation of the collaboration betwixt Schroders Greencoat and METLEN pursuing the acquisition of a UK star portfolio of astir 110MW successful 2024.

The portfolio consisted of 3 star assets astatine Gorse Lane successful Lincolnshire, Defford successful Worcestershire and Watnall successful Nottinghamshire.

Schroders Greencoat portfolio manager Duncan Hale said: "This acquisition represents a important milestone for some Schroders Greencoat and UK pension savers.

“In our view, by adding these high-quality, income-generating star assets to our portfolio, we are aiming to supply UK pension savers the accidental to enactment the UK’s modulation to a low-carbon future, whilst besides enabling them to payment from unchangeable returns successful a strategically captious sector.

“We are truly pleased to beryllium moving with METLEN again and anticipation to proceed gathering connected this palmy relationship.”

METLEN maintains a important beingness successful the UK market, focusing connected advancing the nation's vigor modulation done initiatives successful star energy, artillery vigor retention systems (BESS), flexible procreation and grid infrastructure.

Akereos Capital provided fiscal advisory services to METLEN for this transaction, portion Pinsent Masons served arsenic ineligible advisor.

Walker Morris served arsenic the ineligible advisor for UK existent property matters, portion Harper Macleod provided akin services for Scotland, some connected behalf of METLEN.

METLEN renewables and vigor modulation level main enforcement manager Nikos Papapetrou said: “This transaction represents different important milestone successful the palmy implementation of METLEN’s planetary plus rotation strategy. It demonstrates however well-structured projects combined with the unsocial operation and execution capabilities of METLEN proceed to pull high-quality organization investors, allowing america to crystallise value.

“Over the years, we person established a beardown narration with Schroders Greencoat, 1 of the astir salient investors successful the UK renewable vigor sector, and this transaction further highlights however communal spot and aligned semipermanent objectives let gathering long-term-value-enhancing cooperations.”