Schroders Greencoat has entered into a memorandum of understanding (MoU) with Contemporary Amperex Technology (CATL) and Lochpine Capital to jointly explore, develop and invest in battery energy storage projects across Europe.
The agreement provides for the creation of an investment platform focused on European battery energy storage systems (BESS), with CATL named as the primary supplier of battery units under the arrangement.
The signing took place in Beijing, China, during a visit by Schroders group CEO Richard Oldfield, as part of a business delegation led by UK Prime Minister Keir Starmer aimed at strengthening commercial and investment ties between China and the UK.
Lucy Rigby, Economic Secretary to the Treasury of the UK, attended the signing alongside senior representatives from each company.
Through this collaboration, the parties intend to combine their respective experience in renewable infrastructure and technology to support the development of up to ten gigawatt-hours of renewable energy storage capacity in Europe.
The partnership also aims to contribute towards Europe’s ongoing transition toward net-zero emissions.
Schroders Greencoat operates as part of Schroders Capital and manages approximately 450 renewable infrastructure assets across the globe, representing a net generation capacity exceeding 7.7GW.
Its teams are based in international cities including Beijing, Chicago, Copenhagen, Dublin, Frankfurt, Hong Kong, London, Madrid, New York and Shanghai.
The alliance is expected to support both the growth of Schroders Greencoat’s activities in Europe’s energy sector and CATL’s efforts towards further international expansion following its planned listing in Hong Kong next year.
Schroders Capital Infrastructure chair Richard Nourse said: “Accelerating Europe’s energy transition requires the deployment of significant amounts of capital. We look forward to working with Lochpine to provide investors with innovative ways to broaden access and investment into battery energy storage and other energy transition-related infrastructure.”
Lochpine Capital focuses its infrastructure investment strategy on global BESS assets and related renewable solutions utilising CATL technology.
This MoU builds upon more than three decades of Schroders’ business presence in mainland China.
