INVEST RAISE ABOUT INSTITUTIONAL arrow_back BACK Investment manager Downing exits sixth hydro project Tom Williams 10 October 2019 Investment manager Downing LLP today announces the sixth exit by its funds from a series of hydroelectricity investments based in Scotland and managed by Gilkes Energy Limited. Downing’s Energy and Infrastructure Investment team has worked closely with Gilkes Energy, a specialist hydroelectricity developer, since September 2013, to invest in a series of seven projects. The investment funded the development, construction and operation of the projects which total 8MWp of renewable energy generation in Scotland. Downing has undertaken a successful programme of disposals to return capital to Enterprise Investment Scheme (EIS) investors in the projects, of which this divestment forms part. All six investments have been acquired by GHI Holdings Limited – a company which owns and operates a portfolio of operational hydro projects. Gilkes Energy will continue to operate all six projects. Downing EIS investors hold equity in one other operational hydroelectricity project and it is anticipated that the company will be sold towards the end of 2019. More about the hydro project The hydroelectric project is located in Argyll, Scotland. Each of the hydro sites are ‘run-of-the-river’ hydroelectricity projects which use the natural flow of water in a river to drive a turbine rather than storing water in a large dam or reservoir. Together, the seven hydro stations have capacity to generate up to 8MW of renewable energy. Tom Williams, Head of Energy and Infrastructure at Downing, commented: “We’re very pleased to have completed a further exit from our hydroelectric investments alongside Gilkes Energy, who we will continue to support going forward. These investments have performed very well and have provided excellent returns for our investors. The energy sector is a key focus for Downing and we are proud of the contribution these particular projects make in supporting renewable energy in the UK and the fight against climate change. Downing works hard to provide management teams with capital to develop projects which, in turn, deliver attractive risk-adjusted returns to our investors and it’s great to see this being realised through our work with Gilkes Energy and GHI Holdings.” If you have any follow-ups or would like to speak to a member of the Downing team, please contact Pamela Morris, PR Director at the lang cat, on 07712 515 503 / pamela@langcatfinancial.com Downing Home Our story The team News & views Responsible investing Careers Contact us Invest Bonds EIS Estate planning Downing Fund Managers VCT Existing investor Investor centre Institutional Institutional investors Infrastructure asset management Raise Development Capital Energy Healthcare Leisure Property Wholesale Finance Ventures Ventures home About ventures Portfolio Ventures team Ventures careers Legal & support Privacy & cookie policy Information Security Policy Statement Terms and conditions Terms of business Inducement disclosure FAQs Pillar III Modern slavery statement Fraud prevention Complaints Social Twitter LinkedIn Downing LLP does not provide advice or make personal recommendations and investors are strongly urged to seek independent advice before investing. Investments offered on this website carry a higher risk than many other types of investment and prospective investors should be aware that capital is at risk and the value of their investment may go down as well as up. Any investment should only be made on the basis of the relevant product literature and your attention is drawn to the risk, fees and taxation factors contained therein. Tax treatment depends on individual circumstances of each investor and may be subject to change in the future. Past performance is not a reliable indicator of future performance. Downing LLP is authorised and regulated by the Financial Conduct Authority (Firm Reference Number 545025). Registered in England No. OC341575. Registered Office: St Magnus House, 3 Lower Thames Street, London EC3R 6HD. VAT Number: 112 940 149 We use cookies to ensure that we give you the best experience on our website. Click here for more information. DISMISS