The Buzzacott Transaction Services and Tax Teams advised investment manager Downing LLP on its acquisition of a portfolio of c.4,200 solar PV residential installations across England and Wales. The portfolio was acquired from Foresight for c.£26 million.

Overview of deal

Buzzacott provided transaction advisory services including financial and tax due diligence and structuring advice. 

Who are the firms involved?

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. To find out more about Downing’s renewable energy infrastructure investments, visit their website.

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.

What we liked about this deal

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.

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.