Greencoat Capital is an asset manager which offers institutional investors the opportunity to invest into a diversified portfolio of UK and European renewable infrastructure assets delivering inflation-linked cashflows.
It has successfully raised capital from a number of LGPS funds and represents a good example of how listed funds can bring scale to these key PBII sectors.
The business model brings institutional capital into the operators of infrastructure assets. Greencoat will buy the physical assets from a utility which allows the utility to free up capital and build further assets. Greencoat work with the operator as owner of the assets in a model known at ‘AssetCo + OpCo’ – Greencoat is the AssetCo (or Asset Company) and the utility is the OpCo (or Operating Company).
Greencoat Capital is one of the UK’s largest investors in the resource efficiency and renewable energy market, with approximately £5.5 billion under management. Greencoat focuses on solar, wind and bioenergy, with selected other green infrastructure opportunities such as renewable heat.
Founded in 2009, Greencoat has built an experienced team of around 50 investment professionals headquartered in London and Dublin. The business verticals manage either listed vehicles which are available to both institutional and retail investors, or private funds. These include:
| INCEPTION | VEHICLE | STRATEGY | MARKET CAP (BN) |
| 2013 | Greencoat UK Wind PLC | Investing in 35 operating UK wind farms including onshore and offshore, with net generating capacity of 979MW (equivalent of almost 1m homes). | £2.2 |
| 2016 | Greencoat Solar | Owns and operates 78 UK Solar PV generation assets with inflation-linked revenues, consolidating a fragmented market. | £1.3 (commitments) |
| 2017 | Greencoat Renewables PLC | Owns and operates 12 renewable infrastructure energy assets with EURO revenues in the Republic of Ireland with a combined capacity of 411MW. | €0.6 |
| 2019 | Bioenergy | Unlisted funds invested in bioenergy assets. | – |