Investment manager Downing LLP has acquired a portfolio of 4,200 solar PV residential installations across England and Wales. The portfolio was acquired from Foresight for around £26 million.
The renewable energy and infrastructure arm of Downing Estate Planning Service has acquired the 13.8MWp portfolio, which is forecasted to generate a total of 12GWh per annum. The installations have 100% fixed revenues from feed-in-tariffs.
Approximately 80% of the rooftop solar assets are located across the Midlands, Wales and the South-West with the remaining 20% located in the North of England and South-East.
Downing’s internal infrastructure asset management team will be overseeing the operation and maintenance of the assets.
Sean Moore, Investment Director at Downing LLP, said: “We are immensely proud to announce the acquisition of this residential solar PV portfolio. At Downing, we are committed to responsible investing, and this acquisition is another milestone in that journey.”