Schroders Greencoat, the green energy manager of Schroders Capital, and Carlton Power are set to build the 30MW Barrow Green Hydrogen Project in Cumbria, having today reached final investment decision (FID) on the scheme.
The Barrow Green Hydrogen Project is owned and being delivered by Green Hydrogen Energy Company (GHECO), the joint venture established by Schroders Greencoat and Carlton Power in 2023. The partners said it is one of the first renewable hydrogen production facilities to reach FID in the UK.
The GHECO joint venture is a dedicated platform through which institutional capital can be deployed at scale into UK green hydrogen production.
The Barrow Green Hydrogen Project is the first project that the GHECO platform has brought into construction. The project was originated and initially developed by Carlton Power, and the company signed a Low Carbon Hydrogen Agreement (a type of contract for difference) with the UK government in June 2025, following the government’s first Hydrogen Allocation Round (HAR1).
Following this, the project was acquired by GHECO, which has continued and finalised the commercial and technical development of the project leading to the FID.
Barrow is part of a “significant pipeline” that GHECO is targeting to build over the coming years with an aim to build a 200MW portfolio of green hydrogen projects in the UK by 2030.
To bring Barrow to the FID stage, GHECO has secured a long-term hydrogen supply agreement with Andrex and Kleenex maker Kimberly-Clark at its Barrow-in-Furness manufacturing plant and an agreement with SEFE, a provider of renewable energy, to provide the power to operate the plant over a long-term power purchase agreement (PPA). Plug Power will provide hydrogen electrolysers and EDF subsidiary Dalkia Engineering will deliver the construction and commissioning of the project.
Source: IPE Real Assets on 20 May 2026
https://realassets.ipe.com/news/schroders-greencoat-and-carlton-power-to-build-cumbria-hydrogen-project/10136848.article