itstargetnews
Schroders Greencoat, a renewable investment manager and part of Schroders Capital, has agreed to acquire a 283 megawatt peak (MWp) solar photovoltaic (PV) portfolio from METLEN Energy & Metals.
The portfolio, which consists of seven projects in England and Scotland, includes 143 MW already operational and a further 140 MW under construction, with completion expected in the second quarter of 2026.
The projects are expected to supply power to approximately 89,333 homes and will benefit from long-term purchase agreements with companies such as Vodafone and Engie.
The transaction marks a continuation of the collaboration between Schroders Greencoat and METLEN after the acquisition of a UK solar portfolio of approximately 110MW by 2024.
The portfolio consisted of three solar assets at Gorse Lane in Lincolnshire, Defford in Worcestershire and Watnall in Nottinghamshire.
Schroders Greencoat portfolio manager Duncan Hale said: “This acquisition represents an important milestone for both Schroders Greencoat and UK pension savers.
“In our view, by adding these high-quality, income-generating solar assets to our portfolio, we aim to offer UK pension savers the opportunity to support the UK’s transition to a low-carbon future, while allowing them to benefit from stable returns in a strategically vital sector.
“We are very pleased to be working with METLEN again and look forward to continuing to build on this successful relationship.”
METLEN maintains a significant presence in the UK market, focusing on advancing the country’s energy transition through initiatives in solar energy, battery energy storage systems (BESS), flexible generation and grid infrastructure.
Akereos Capital provided financial advisory services to METLEN for this transaction, while Pinsent Masons served as legal advisor.
Walker Morris acted as legal adviser for UK real estate matters, while Harper Macleod provided similar services for Scotland, both on behalf of METLEN.
Executive Director of METLEN’s Renewables and Energy Transition Platform, Nikos Papapetrou, said: “This transaction represents another important milestone in the successful implementation of METLEN’s global asset rotation strategy. It demonstrates how well-structured projects combined with METLEN’s unique construction and execution capabilities continue to attract high-quality institutional investors, enabling us to crystallize value.
“Over the years, we have built a strong relationship with Schroders Greencoat, one of the leading investors in the UK renewable energy sector, and this transaction further highlights how mutual trust and aligned long-term objectives enable us to build co-operations that enhance long-term value.”
