This month, Downing announced an exit by its EIS and VCT funds from a UK-based solar portfolio, Juno Holdings Limited. These investments performed well and have provided excellent returns for its investors.
Throughout 2013 and 2014, Downing invested £46.4 million of EIS and VCT equity into the development of eight ground mount solar sites and three rooftop solar portfolios, with a variety of development partners. All of Juno’s 11 assets are operational and benefit from UK Government Subsidies (Renewable Obligation Certificates). Downing’s asset management team was appointed to the portfolio in order to optimise performance ahead of the sale.
Downing has exited the full Juno portfolio from its EIS and VCT funds to Bagnall Energy Ltd. Downing will continue to oversee the asset management to ensure its long term success and profitability of the underlying assets.