ESG
The ESG Phenomenon: Schroders Greencoat, Carlton Power

The latest developments in the areas focused on investment ideas linked to concerns about climate change, protection of wildlife habitats, labour market conditions, human rights, corporate and public governance, and other related topics.
Schroders
Schroders Greencoat, the specialist renewables and energy
transition infrastructure manager of UK-based Schroders Capital –
part of Schroders
– and Carlton Power, the UK independent energy
infrastructure development company, have reached a “financial
investment decision” on a green hydrogen project in the UK's
northwest.
The FID applies to a 30 megawatt project in Barrow, Cumbria. The
project is owned and delivered by Green Hydrogen Energy Company
(GHECO), a JV established by Schroders Greencoat and Carlton
Power in 2023.
Barrow is part of a pipeline that GHECO is targeting to build
over the coming years with the aim of building a 200 MW
portfolio of green hydrogen projects in the UK by 2030.
This particular project was originated and initially developed by
Carlton Power. The company signed a Low Carbon Hydrogen Agreement
with the UK government in June 2025, following the government’s
first Hydrogen Allocation Round (HAR1). Subsequently, the project
was acquired by GHECO, which has continued and finalised the
commercial and technical development of the project leading to
the FID.
“We believe hydrogen is central to the next phase of the energy
transition and projects like Barrow demonstrate how Schroders
Greencoat can unlock opportunities for investors and deploy
institutional capital at pace to decarbonise hard-to-abate
sectors,” Kristian Høeg Madsen, co-head of hydrogen investments
at Schroders Greencoat, said.
Minister for Energy Michael Shanks said: “Barrow Green Hydrogen
reaching this next step showcases the UK’s thriving hydrogen
industry, which will be crucial to ending our reliance on fossil
fuels, driving investment and creating jobs for local communities
in Cumbria and across the UK."