Downing assumed the investment and asset management responsibilities for a portfolio of c.3,000 domestic solar PV installations in February 2020.
Downing's asset management team identified a series of financial and operational improvements designed to increase the performance of the projects and KPIs to monitor the progress of these measures.
Our in-house finance, commercial and technical teams then commenced the implementation of these improvements.
Sequence of events:
- Start of asset management agreement
- Identified £106k of backdated revenue through data collection reconciliations
- Negotiated with regulator to reduce requirements for meter readings – £96k saving
- Negotiated new Power Purchase Agreement (PPA) - extending terms to further portfolios
- Negotiated operations and maintenance (O&M) early termination – improved terms and pricing expected to commence December 2020