Schroders Greencoat powers up in wind farms
Schroders Greencoat
Since 2009 Greencoat UK Wind plc, a Schroders Greencoat (SGC) managed fund, has grown significantly with stakes in 49 wind farms. They produce 2% of the UK’s electricity, which is roughly equal to powering 2.2 million homes each year.
Over the years, our relationship has gone from strength to strength. After lending £100m as part of a revolving credit facility in 2024, when the opportunity to buy a 24.5% stake in West of Duddon Sands offshore wind farm arose, SGC knew we had what it took to secure it.
To make their goals a reality, we, alongside Santander Corporate Investment Bank (SCIB), provided an acquisition financing solution. Our ability to be flexible, transparent and approachable really shone through.
Santander came in very early into our Revolving Credit Facility. We really value these long-term connections over time.
We completed the refinancing in 2024 which Santander was a key part of. It was fantastic to be able to tell our shareholders that there was no need to go outside our existing lenders.
Co-Fund Manager, Greencoat UK Wind plc and Partner, Schroders Greencoat
Santander's strong credentials in the renewable space gave us confidence they had the capability to deliver a fully funded solution for the acquisition.
Investment manager, Schroders Greencoat
With all the connections needed to deliver and only a phone call away, we were able to support SGC every step of the way. We made this complex transaction as smooth and straightforward as possible.
The acquisition gave us the opportunity to work together across the bank. Delivering one clear, acquisition financing solution.
By staying flexible and working closely as a team, we tailored our approach to fit exactly what SGC needed.
SGC is an ambitious, international, high-growth business, and we’re delighted to have partnered with them. We look forward to building on this success and continuing to grow the relationship.
Director, Specialised & Project Finance, Santander