solar panels curve over a hill away from the camera
This is the fifth sale Innova has made to Schroders. Image: Innova.

Renewable energy developer Innova has sold its27.5MW Ducklington Solar project to investment firm Schroders Greencoat.

The Ducklington Solar project is located in Oxfordshire and was granted planning consent in March 2022. Construction is expected to begin in the first quarter of this year, with generation expected to begin in early 2026.

Ducklington Solar was awarded a contract in the September 2024 Contracts for Difference (CfD) allocation round, AR6. Five other Innova projects also secured contracts in AR6, including the Preston Farm Solar development in Somerset, Parkgate Farm Solar in Essex, Tollish Hall Farm Solar and Bedworth Solar, both in Coventry.

This is the fifth solar project that Innova has sold to Schroders Greencoat, totalling 110MWp of capacity. In November 2024, Innova sold the 28.5MWp Stokeford Solar Park to Schroders, having previously collaborated with the firm under their joint venture partnership, ISG Renewables, which was formed in 2023. ISG Renewables has previously acquired the 10MWp Carn Nicholas solar development from Innova, as well as the 22.6MWp Bicker Fen Solar Park and the 27.8MWp Elms Farm Solar Park, which was energised late last year.

Christian Miller, investment manager at Innova, said: “It is with great pleasure that we announce the divestment of our fifth project from our DNO pipeline to a Schroders Greencoat-managed fund. We look forward to working closely together in future as we build on our shared ambitions.” 

Matt Yard, co-head of solar & storage at Schroders Greencoat, added: “We are delighted to be partnering with Innova on yet another exciting solar project in the UK which will go into construction this year in Oxfordshire. The CfD-backed project underscores our commitment to delivering long-term, inflation-linked returns for our investors while also accelerating the UK’s transition to a low-carbon future.”

Schroders continues to expand its reach

Schroders Greencoat expanded its portfolio significantly in 2024, with a number of major acquisitions.

The year began with the investment fund announcing that it would complete what was termed the UK’s largest-ever solar acquisition, as it secured 53 solar PV power plants with a combined capacity of 513.5MWp from Toucan Energy in a deal worth £700 million.

In July, the firm acquired a 110MW UK solar portfolio, comprised of three assets across England, from Metlen Energy and Metals. Less than a month later, the fund completed the purchase of the 80.5MWp South Meath Solar Farm from Statkraft, and later in August 2024 acquired the 49.9MW Tiln Farm solar project from Lightsource bp.