Downing LLP exits five hydro projects after $26mn investment

By Sean Galea-Pace
The investment manager, Downing LLP, has announced the sale of Osprey Green Power Limited, the fifth exit by its funds from...

The investment manager, Downing LLP, has announced the sale of Osprey Green Power Limited, the fifth exit by its funds from seven hydro investments based in Scotland and managed by Gilkes Energy Limited.

Having worked in collaboration with Gilkes Energy since 2013, Downing has invested approximately £20mn ($26mn) of EIS equity across its seven projects. The projects are now fully operational and have been built on time and within budget.

With Downing having exited five of the projects to GHI Holdings Limited, a company renowned for owning and operating a range of operational hydro projects, Gilkes Energy is set to continue to operate the hydro projects.

David Freeder, Investment Director at Downing, said: “We’re extremely pleased to have completed the latest in a series of successful exits from a number of our investments alongside Gilkes Energy. The energy sector is a key focus for Downing and we’re delighted to have achieved the target returns for our investors.”

“The ultimate aim of our funding is to provide management teams with capital to develop projects that deliver attractive risk-adjusted returns to our investors and it’s great to see this coming to fruition from our work with Gilkes Energy.”

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