The ESG Phenomenon: Schroders Greencoat, Carlton Power

Editorial Staff

21 May 2026

Schroders
Schroders Greencoat, the specialist renewables and energy transition infrastructure manager of UK-based Schroders Capital – part of – 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."