224. From Wind farms (yield) to Datacenters (growth) - Apr26
From Redefining Energy by Laurent Segalen and Gerard Reid
April 13, 2026 · 30 min
About this episode
Laurent and Gerard discuss the evolution of the renewable energy sector with Paul O’Donnell, focusing on investment strategies and the convergence with datacenter financing.
Laurent and Gerard sit down with Paul O’Donnell, Partner at SchrodersGreencoat, a fund manager that has invested more than €13 billion and controls over 400 renewable energy assets across Europe, the Americas, and Asia. Paul has spent 17 years at Greencoat and became Partner in 2022, following Schroders’ acquisition of the platform, which itself was acquired by Nuveen in 2026. Greencoat has a distinctive structure, as it manages listed vehicles—historically known as YieldCos—designed to provide stable dividends to investors through long-term infrastructure assets. The discussion begins with a deep dive into the evolution of the renewable energy sector over the past 10–15 years. The market has shifted from portfolios primarily backed by government-supported contracts to a more dynamic growth strategy built on active portfolio management, trading, power purchase agreements (PPAs) with hyperscalers, and the hybridisation of assets. A key milestone in this evolution has been the push toward vertical integration, illustrated by partnerships such as the Greencoat collaboration with CATL. The conversation also explores the growing convergence between energy investors and real estate or…
People in this episode
Hosts: Laurent Segalen, Gerard Reid
Guest: Paul O’Donnell
Topics covered
- renewable energy
- investment strategies
- datacenters
- vertical integration
- energy supply
- portfolio management
Keywords
- renewable energy
- investment
- datacenters
- YieldCos
- power purchase agreements
- vertical integration
- energy infrastructure
Mentioned in this episode
Organizations: SchrodersGreencoat, Greencoat, Nuveen, CATL
Places: Europe, Americas, Asia
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