Natural Power's Role in the Sale of UK's Largest Operational Solar Portfolio

Natural Power, a renowned renewable energy consultancy and service provider, recently served as the vendor's technical advisor for the sale of Toucan Energy's impressive solar portfolio. The portfolio comprises 53 operational solar farms located across England, Wales, and Northern Ireland, with a combined capacity of 513.5 MWp. This vast portfolio has the capacity to power approximately 184,000 homes, making it the largest operational solar portfolio ever transacted in the UK.

 

Pivotal Involvement in a Historic Deal

 

Fuaad Mukadam, Principal Technical Advisor and Project Manager at Natural Power, expressed pride in the company's pivotal role in this significant transaction. Mukadam highlighted the scale and complexity of the portfolio and deal, emphasizing Natural Power's essential contribution as a technical advisor. He noted that this landmark transaction not only aligns with the UK's clean energy strategy and targets but also demonstrates the company's dedication to the journey towards achieving net-zero emissions.

 

Acquisition by Schroders Greencoat

 

Schroders Greencoat has secured the acquisition of the Toucan Energy portfolio following a competitive bidding process overseen by the joint administrators of Toucan Energy Holdings 1 Limited at Interpath Advisory. The majority of the portfolio will be acquired by various Schroders Greencoat managed funds, including Greencoat Solar II LP and Greencoat Renewable Income LP, along with recently launched mandates. Notably, six Local Government Pension Schemes - Avon, Cornwall, Devon, Gloucestershire, Oxfordshire, and Wiltshire Funds - will acquire a significant portion of the portfolio through Schroders Greencoat Wessex Gardens LP, a fund focused on renewable energy infrastructure. Tokyo Century will also participate as a co-investor in the acquisition.

 

Optimal Value and Return Generation

 

Jim Tucker, Managing Director at Interpath Advisory and joint administrator of Toucan Energy Holdings 1 Limited, expressed delight at the agreement with Schroders Greencoat. He emphasized that the new ownership of this exceptional solar portfolio will deliver maximum value and generate significant returns for the portfolio's creditors. Tucker acknowledged the competitiveness of the sales process, attributing it to the rarity of assets of such scale and quality entering the market. The completion of the transaction is eagerly anticipated in the coming weeks, marking a significant milestone in the renewable energy sector.