Schroders Greencoat, CATL, and Lochpine Capital have signed an MoU to collaborate on battery energy storage projects in Europe. CATL will be the primary battery supplier. This partnership aims to develop up to ten gigawatt-hours of renewable energy storage capacity and support Europe’s transition to net-zero emissions.

The agreement was signed in Beijing during a visit by Schroders CEO Richard Oldfield and UK Prime Minister Keir Starmer. Economic Secretary Lucy Rigby and company representatives were present. Schroders Greencoat manages over 450 renewable infrastructure assets globally, with a net generation capacity exceeding 7.7GW.

The alliance aims to boost Schroders Greencoat’s presence in Europe’s energy sector and aid CATL’s international expansion after its planned listing in Hong Kong. Schroders Capital Infrastructure chair Richard Nourse highlighted the need for significant capital deployment to accelerate Europe’s energy transition through innovative investment opportunities in battery energy storage and related infrastructure.

Lochpine Capital focuses on global BESS assets and renewable solutions using CATL technology. This MoU builds upon Schroders’ three-decade business history in mainland China. The collaboration is a step towards advancing renewable energy storage and supporting Europe’s move towards net-zero emissions.

Read more at Yahoo Finance: Schroders, CATL and Lochpine sign MoU for European BESS projects