Schroders Greencoat, the renewable energy infrastructure management arm of Schroders Capital, has acquired three solar PV assets from Metlen Energy and Metals (formerly Mytilineos).
The portfolio consists of three operational ground-mounted solar projects with a combined capacity of approximately 110 MW: Gorse Lane in Lincolnshire, Defford in Worcestershire and Watnall in Nottinghamshire.
In 2022, Metlen (then Mytilineos) and Centrica signed a power purchase agreement (PPA) with Vodaphone UK regarding the energy generated by the three assets.
Following the transaction, Greencoat’s operational solar portfolio, on behalf of one of its solar-focused private assets, amounts to approximately 1.9 GWp.
Lee Moscovitch, partner at Greencoat, said: “We are pleased to add these assets to our growing UK solar portfolio. This acquisition underlines our commitment to delivering stable and sustainable returns to our valued investors. As the renewable energy sector works to meet the UK Government’s ambitious 2035 solar energy targets, this transaction further cements our position as a leading player in the sector.”
This strengthens its position as the largest operator of ground-mounted solar farm operations in Britain, according to the company’s own market research. Earlier this year, Greencoat acquired Toucan Energy, which is believed to have the largest operating solar portfolio traded in the UK.
A £700 million deal secured 53 solar farms for Greencoat with a combined capacity of 513 MW.
The sustainable subsidiary of the Greek company Mytilineos became Metlen in early JuneA milestone that, according to Chairman and CEO Evangelos Mytilineos, shows that the company is “motivated and committed to reaching new heights that a Greek company has never conquered.”
Metlen secured an engineering, procurement and construction (EPC) contract for the 373MW Cleve Hill solar project in 2023, overseeing the delivery of the Kent-based project led by Quinbrook.
The developer successfully appealed Swale Council’s decision to refuse permission for the co-located 150MW battery energy storage system (BESS) for the site, the latest battery asset to be awarded to Metlen. It has more than 439 MW of solar and 732 MW/1.18 GWh BESS projects in Britain.
