Downing acquires 13.8 MWp residential solar portfolio in the UK

London-based investment management firm Downing LLP has acquired a 13.8-MWp portfolio of solar PV residential installations spread across England and Wales.

The renewable energy and infrastructure arm of Downing Estate Planning Service bought the rooftop solar portfolio from UK investor Foresight for approximately GBP 26 million (USD 32.9m/EUR 30.4m), Downing LLP said on Tuesday.

The package contains roughly 4,200 installations benefiting from 100% fixed revenues from feed-in-tariffs. The solar power systems are expected to generate 23.6 GWh of power per year.

Around 80% of the solar assets are located in the Midlands, Wales and the South West, with the remainder in the North and South East of England. Downing's in-house infrastructure asset management team will be responsible for the operation and maintenance of the installations, the firm said.