Key information
- SectorSolar energy
- StrategyRenewable energy infrastructure
- SDG*7, 13
- Ownership100% Schroders Greencoat
Toucan Energy
Investing in one of the UK’s largest solar energy platforms to support long-term renewable energy generation
Infrastructure | United Kingdom
2024
Year of investment
~£700 million
Portfolio value
United Kingdom
Geography
About
In early 2024, Schroders Greencoat agreed to acquire the Toucan Energy solar portfolio, the largest operational solar portfolio brought to market in the UK to date. The portfolio consists of 53 fully operational solar farms with a combined generation capacity of approximately 513.5 megawatts peak (MWp). It spans a wide geographic footprint across England, Wales, and Northern Ireland. These assets collectively generate enough clean electricity to power the equivalent of over 165,000 homes1, helping to support energy security and renewable energy targets in the UK.
The majority of the portfolio has been acquired by funds managed by Schroders Greencoat, including participation from six UK Local Government Pension Schemes and co-investment from Tokyo Century.
Why we invested
The Toucan Energy portfolio represents a potential opportunity to invest in a mature, well-diversified group of UK solar assets. Each asset is operational, underpinned by established revenue structures and distributed across multiple locations, reducing reliance on any single site or region.
Schroders Greencoat has a long-standing presence in the UK solar sector and is the largest investment manager of operating solar farms in the country, managing over 2 GW of capacity2. Our investment in this portfolio builds on that experience and reflects our strategic approach of acquiring assets with long-term operational potential.
Value creation
Schroders Greencoat’s dedicated asset management team is responsible for overseeing the performance and operations of the portfolio. With 10 years of experience managing over 200 solar assets3, our team applies hands-on operational oversight, aiming to support reliable energy generation and long-term asset stability.
The portfolio offers potential for further development, including future capital optimisation strategies, technical upgrades and ongoing performance monitoring. Where appropriate, these efforts are intended to enhance operational efficiency and maintain asset integrity, consistent with our long-term stewardship objectives.
Our in-house expertise and established partnerships with technical and commercial service providers help us manage large, diverse portfolios like Toucan Energy effectively.
Sustainability
The Toucan Energy portfolio contributes to the UK’s efforts to increase renewable energy generation and reduce emissions from the power sector. Each solar farm generates zero-emission electricity during operation and supports the broader shift toward a more sustainable energy system.
While the overall impact of a portfolio is influenced by national energy mix, weather patterns and policy direction, this acquisition is aligned with Schroders Greencoat’s approach of investing in infrastructure that has the potential to support energy transition goals.
The assets benefit from existing grid connections and are located in areas well-suited to solar generation, making them a practical component of the UK’s renewable electricity infrastructure.
*The United Nation's 17 Sustainable Development Goals ('SDGs') provide a framework for sustainable development. SDG ratings evaluate a company or project’s alignment with these goals, www.sdgs.un.org/goals
1Calculation based on 2700 kWh per average UK household.
2Based on Schroders Greencoat estimations.
3Schroders Greencoat, as of June 2025.
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Important information
The information provided herein is only for professional clients. The case study provided is only for illustrative purpose and is not a recommendation to buy or sell any financial instruments or adopt a specific investment strategy.
Investments with similar characteristics, as well as their past performance may not be repeated in the future. Each asset class have specific risks. Investments in private assets involve a higher degree of risk than more traditional investments. The case study may have been chosen for a variety of reasons, such as being representative of the investment capabilities of the investment team. The circumstances presented are unique to each deal. They do not represent a full picture of the investments made by their respective team and of the product(s) that invested into the asset(s) presented in the case study. Details about the full life-cycle of an asset and its demise, where relevant, will be provided before committing to any agreement.