Downing Commissions 20 MW of Open Access Solar Projects

Downing, the United Kingdom-based investor firm has successfully commissioned 20 MW of open access solar projects in the southern states of Telangana and Andhra Pradesh.

Downing is working in collaboration with its Hyderabad-based investment partner Armstrong Energy Global for the operation of these two solar projects in India.

The projects comprise a combined total funding of $19,317,217 from the Downing Indian Solar Enterprise Investment Scheme (EIS) and other Downing-managed funds.

The two solar projects are the first two investments made by the EIS in 2015 and 2016 respectively.

Downing Indian Solar EIS and Downing-managed Venture Capital Trusts (VCTs) provided $10,301,904 of funding to the Special Purpose Vehicle (SPV) SF Renewables, to support the construction of the 11.2 MW Kambadur solar project in Andhra Pradesh.

Moreover, Downing Indian Solar EIS, Downing Estate Planning Service, and Downing-managed VCTs also invested $8,944,375 in the SPV Rockhopper Renewables, for the construction of the 8.4 MW Jogipet solar project in Telangana, northwest of the capital city of Hyderabad.