Solar: Implementation of operational improvements in large solar rooftop portfolio

15/3/22
5 min
Asset management
Case study
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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:

  1. Start of asset management agreement​
  2. Identified £106k of backdated revenue through data collection reconciliations​
  3. Negotiated with regulator to reduce requirements for meter readings – £96k saving ​
  4. Negotiated new Power Purchase Agreement (PPA) - extending terms to further portfolios​
  5. Negotiated operations and maintenance (O&M) early termination – improved terms and pricing expected to commence December 2020

‍

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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:

  1. Start of asset management agreement​
  2. Identified £106k of backdated revenue through data collection reconciliations​
  3. Negotiated with regulator to reduce requirements for meter readings – £96k saving ​
  4. Negotiated new Power Purchase Agreement (PPA) - extending terms to further portfolios​
  5. Negotiated operations and maintenance (O&M) early termination – improved terms and pricing expected to commence December 2020

‍

We are delighted to announce that Mark Gross, Partner and Head of Development Capital, has been named Equity Investor of the year at the HealthInvestor Power List 2024 Awards.

Following Mark’s achievement last year when he won the “Leading Investor” award at HealthInvestor’s Power50, this year’s win further highlights his continued success and expertise in investing across the healthcare sector. 

The judges praised Mark for finding success both in value and volume this year, delivering good returns and growth. They were impressed by how Mark has continued to strengthen a strong track record with further growth in the team and new funds securing further backing. We extend our thanks to Mark and the Downing Development Capital team for their continued dedication and support in expanding our healthcare investment activities with a focus on quality, performance and reputation. 

Congratulations Mark!

Development Capital  

Downing Development Capital is an award-winning investor focused on investment opportunities into asset-backed operating businesses with downside protection. Typical sectors they invest in include healthcare, specialist education, hospitality, leisure and IT infrastructure.

Learn more about our Development Capital team

‍

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:

  1. Start of asset management agreement​
  2. Identified £106k of backdated revenue through data collection reconciliations​
  3. Negotiated with regulator to reduce requirements for meter readings – £96k saving ​
  4. Negotiated new Power Purchase Agreement (PPA) - extending terms to further portfolios​
  5. Negotiated operations and maintenance (O&M) early termination – improved terms and pricing expected to commence December 2020

‍

Basking in the sun: nine solar policy essentials
Learn more

Torsten Mack, Investment Director at Downing, said:

"We are proud to support this exceptional management team, whose strong track record positions them well to build a new business in dementia care. This needs-based sector is underpinned by a lack of quality supply and we are investing in Fortava Healthcare to set and deliver high standards, and to help make a difference."

Johann van Zyl, CEO at Fortava, added:

"I’m thrilled to be working with Jamie, as we share the same values. We plan to grow Fortava into a leading provider of dementia care over the next five to seven years. But growth isn’t our primary focus—our goal is to deliver outstanding care and foster a joyful, supportive environment for both residents and staff. We’re delighted to be partnering with Downing who also share our values and we look forward to this journey with them."

Jamie Stuart, CFO at Fortava, commented:

“For me, it's about being more than just another care home provider. While dementia care in the UK is generally of a good standard, we want to set ourselves apart with a fresh approach. That’s why, after over 25 years in banking, I chose to partner with Johann and Downing on this venture.”

‍

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:

  1. Start of asset management agreement​
  2. Identified £106k of backdated revenue through data collection reconciliations​
  3. Negotiated with regulator to reduce requirements for meter readings – £96k saving ​
  4. Negotiated new Power Purchase Agreement (PPA) - extending terms to further portfolios​
  5. Negotiated operations and maintenance (O&M) early termination – improved terms and pricing expected to commence December 2020

‍

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