The renewables arm of Schroders Capital, Schroders Greencoat, plans to acquire a majority stake in Toucan Energy’s U.K. solar portfolio following a competitive bidding process managed by the joint administrators of Toucan Energy.
With a value of £700 million ($892 million), Toucan’s portfolio is the largest operational solar portfolio transacted in the United Kingdom to date. The portfolio consists of 53 operating solar farms with a combined capacity of 513.5 megawatts peak across England, Wales and Northern Ireland, powering the equivalent of 184,000 homes.
Schroders Greencoat is the largest manager of operating solar farms in the United Kingdom, with 1.35 gigawatts of solar assets already under management. The company said its extensive track record will benefit the Toucan Energy portfolio, and its specialist team of asset managers intends to harness the portfolio’s reliable generation of clean electricity and support the long-term financial stability of the a