Solar Growth (the “Company”) owns and operates a portfolio of solar plants in the UK with a combined capacity of 37 MW and sells the power generated from its assets to utilities.
Most of the Company’s solar plants are accredited under the Renewable Obligation (RO) or Feed-in Tariff (FiT) scheme which guarantees a minimum RPI-linked payment for the clean electricity generated for 20 years from the date the system was commissioned.
The Company was ranked the no. 1 performing company over the past 5 years in the Inheritance Tax market in the recent review by Tax Efficient Review in December 2022. The portfolio is currently trading in line with forecast and management are reviewing a range of value-enhancing optimisation opportunities across the UK-wide portfolio.
The Company has raised debt from Europe’s leading institutional investor, Aberdeen Standard Investments. The long-term target level of gearing within Solar Growth is 50%.
As the asset manager, Armstrong played an integral role in the development, construction and management of these assets since 2015, and Armstrong is confident that not only will forecast revenue targets be met, but that shareholders will benefit from predictable cashflows over the life of the assets.
Armstrong has an identified pipeline of additional assets that could form part of the Solar Growth portfolio across UK Solar, UK battery and energy flexibility sectors which are all sectors where the asset management team have core expertise.