During 2013 and 2014, Downing partnered with a series of different developers to fund construction of 11 solar PV sites, including three residential portfolios across the UK.
Downing-managed funds invested £51.5m to fund the construction and installation of the plats between 2013 and 2015.
Exited in July 2019 at a weighted-average portfolio internal rate of return (IRR) of 7.7%
Sequence of events:
- Downing takes over asset management
- Analysis of spare part strategy and investment in equipment
- Data analysis identifies pattern of failures and expert diagnostic tests commissioned, equipment failure and associated downtime avoided
- Acceptance into National Grid’s Optional Downward Flexibility Management (ODFM) auction scheme after negotiations with operations and maintenance (O&M) and National Grid
- Negotiation of grazing license with landlord, reducing land management costs and increasing biodiversity
- Targeted drone surveys allow quick and efficient identification of sub-string performance and allow us to hold O&M to account
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