Schroders Greencoat to complete UK’s ‘largest-ever solar acquisition’
Summary
A “significant portion” is being acquired by six Local Government Pension Schemes, including Avon, Cornwall, Devon, Gloucestershire, Oxfordshire and Wiltshire Funds via the Schroders Greencoat Wessex Gardens LP. Lee Moscovitch, Partner at Schroders Greencoat, said: “We are thrilled to have agreed to acquire the largest operational solar portfolio put to market in the UK. “We will aim to deliver reliable returns for our investors via these assets, as they continue to provide a substantial contribution to the UK’s net zero strategy. The result saw the developer collapse, with the main company’s creditor, Thurrock Council, having run up debts of around £1.5 billion. Discussion topics will include renewable capital allocation, scaling European solar and maximising returns for solar-plus-storage projects.