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News – 10.04.24
Form PF: Are you up to speed with the latest developments?
Through this insight we will bring to your attention the main changes in a bitesize manner so that you can stay abreast of the requirements as they may apply to your firm. … Read more
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Tax relief on heritage assets: Am I eligible?
For assets considered to be of national heritage, relief from Capital Gains Tax and Inheritance Tax is available. … Read more
Upcoming event – 29.04.24
Governance code updates and advice for Further Education colleges from Buzzacott and the ESFA
Join Buzzacott and the ESFA for a governance update for further education colleges … Read more
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130 Wood Street, London, EC2V 6DL
enquiries@buzzacott.co.uk T +44 (0)20 7556 1200
Seller: Foresight
Buyer: Downing LLP
Type of deal: Acquisition
Sector: Renewable energy and infrastructure
Value: £26m
Date: January 2024
Buzzacott provided transaction advisory services including financial and tax due diligence and structuring advice.
The renewable energy and infrastructure arm of Downing Estate Planning Service has acquired 100% of a residential solar PV portfolio from Foresight. The portfolio was particularly attractive as it benefits from 100% fixed revenues from feed-in-tariffs. It also demonstrates Downing’s commitment to responsible investing.
Downing’s internal infrastructure asset management team will be overseeing the operation and maintenance of the assets. They are confident this acquisition will yield long-term, positive impacts for both their investors and the environment.
The financial due diligence team was led by Alex Judd, supported by James Wood and Megan Leonard-Moran. The tax team was led by Tony Dillow, supported by Kazia Kruszewski, Nicholas Lee, and Kamlesh Chauhan from our specialist VAT team.
Downing’s Energy and Infrastructure team has made more than 180 investments and has c.£850 million of assets under management - consisting of solar, wind, hydro and battery storage technology.
“It was a pleasure to work with the Buzzacott team, who supported us with corporate finance and tax due diligence mandates on this transaction. The financial and tax teams worked seamlessly together to help us identify and mitigate key issue risks. Their efforts added a lot of value to our decision making” – Arthur Glowacki
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