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, comprising seven projects in England and Scotland, includes 143MW already operational and another 140MW under construction, with completion expected by the second quarter of 2026.
The projects are set to supply power to approximately 89,333 homes and benefit from long-term offtake agreements with companies such as Vodafone and Engie.
The transaction marks a continuation of the collaboration between Schroders Greencoat and METLEN following the acquisition of a UK solar portfolio of approximately 110MW in 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 a significant 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 are aiming to provide UK pension savers the opportunity to support the UK’s transition to a low-carbon future, whilst also enabling them to benefit from stable returns in a strategically vital sector.
“We are really pleased to be working with METLEN again and hope to continue building on this successful relationship.”
METLEN maintains a significant presence in the UK market, focusing on advancing the nation’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 served as the legal advisor for UK real estate matters, while Harper Macleod provided similar services for Scotland, both on behalf of METLEN.
METLEN renewables and energy transition platform chief executive director 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 the unique construction and execution capabilities of METLEN continue to attract high-quality institutional investors, allowing us to crystallise value.
“Over the years, we have established a strong relationship with Schroders Greencoat, one of the most prominent investors in the UK renewable energy sector, and this transaction further highlights how mutual trust and aligned long-term objectives allow building long-term-value-enhancing cooperations.”
