Schroders Greencoat has received a £170 million commitment from the Environment Agency Pension (EAPF) to boost investment in wind, solar, bioenergy, heat pumps and hydrogen.
Greencoat, the specialist sustainable energy and energy transition infrastructure manager of Schroders Capital, a UK-headquartered asset manager with £750 billion in assets under management (AUM), will allocate the resources to its UK private markets flagship Greencoat Renewable Income LP (GRI).
GRI launched in 2020 with £277m of investment from Brunel and SAUL, as reported in our sister publication Solar energy portal. With this new commitment, the total now stands at £1.35 billion, with the final close scheduled for December 2024.
The Fund invests exclusively in renewable infrastructure assets in the UK and focuses on a diversified portfolio of wind, solar and bioenergy. The fund is also investing in more emerging technologies such as heat pumps and green hydrogen electrolysis – both key components of a net zero Britain.
To date, GRI has deployed over £1 billion in the UK. This includes the “largest” solar acquisition ever in Britain, with the company acquiring 53 solar farms from Toucan Energy. The Fund also supports the development of a hydrogen portfolio of 500 MW strong with support from energy infrastructure development company Carlton Power.
It’s worth noting that Greencoat has launched a new one semi-liquid energy transition fund earlier this year (January 18) to support renewable technologies such as solar, wind, hydrogen and battery energy storage.
Tatiana Zervos, portfolio manager at Schroders Greencoat, said: “Renewable infrastructure assets are the backbone of the energy transition and as the largest asset manager of operational wind and solar in the UK, Schroders Greencoat can offer its customers direct access to seize these opportunities with reliable long-term inflation-linked cash flows through a diversified strategy.
“Our track record means we are a trusted partner for influential investors such as the EAPF and we are excited to build on our relationship with Brunel, which dates back to the fund’s inception in 2019.”
This article first appeared in Solar Power Portal’s sister publication Current±.
