- Leading Candidate: Schroders Greencoat
- Auction Process Delegation to KPMG
- Other Contenders: GLIL and CKI
- Financial Repercussions of Toucan’s Demise
Schroders Greencoat is the top contender to acquire Toucan Energy after the company’s collapse into administration a year ago.
The infrastructure investor owned by fund management giant Schroders is leading the bid to acquire Toucan Energy, a solar farm operator that received hundreds of millions of pounds from a scandal-stricken local authority.
It remains uncertain if Schroders Greencoat has formal exclusivity for the portfolio of over fifty solar parks being auctioned under the administration process supervised by Interpath Advisory and delegated to KPMG.
Other recent contenders in the dispute were GLIL and CKI, a prominent Hong Kong-based infrastructure company.
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Toucan Energy failed after Thurrock Council invested over £650 million over four years. Despite a substantial reimbursement for the local government through the sale of solar assets, the demise of Toucan could still cost taxpayers tens or even hundreds of millions of pounds.
Similar to other councils investing in struggling private sector companies, Thurrock faces financial challenges, especially in the energy sector. The completion timeline for the transaction remains unclear.
