Downing exits five hydro projects in UK to GHI Holdings Limite
Investment manager Downing LLP has announced the recent sale of Osprey Green Power Limited, the fifth exit by its funds from a series of seven hydro investments based in Scotland and managed by Gilkes Energy Limited.
Downing has worked closely with Gilkes Energy since September 2013, investing some £20 million (US$26 million) of EIS equity across seven projects. These seven projects are now fully operational, all having been built on time and to budget.
Downing has exited five of these projects to GHI Holdings Limited – a company which owns and operates a portfolio of operational hydro projects. Gilkes Energy will continue to operate the hydro projects.
The projects are located in Inverness-shire, Argyll and Perthshire, Scotland. All the sites are ‘run-of-the-river’ hydroelectricity projects taking water from the river only to the extent that a minimum water flow can be sustained. The seven hydro stations have capacity to generate up to 8 MW of renewable energy between them.
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