Investment manager acquires £26m residential solar panel portfolio

Investment manager, Downing has bought a portfolio of approximately 4,200 residential solar PV installations spread across England and Wales from Foresight, in a deal worth around £26m.

The renewable energy and infrastructure division of Downing Estate Planning Service now the 13.8 MWp portfolio, expected to produce c.12 GWh annually, with fixed revenues from feed-in tariffs.

Approximately 80% of the rooftop solar assets are across the Midlands, Wales and the South-West with the remaining 20%  in the North of England and South-East.

Downing’s in-house infrastructure asset management team will oversee the operation and maintenance of these assets.

Sean Moore, investment director at Downing, 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. With our internal infrastructure asset management team at the helm, we are confident that this acquisition will yield long-term, positive impacts for both our investors and the environment.”

Downing was advised on the acquisition by RINA, TLT, Buzzacott and Spring Park Capital.