What we did
Jim Shaw and Myles Hamilton helped Ethical Power raise £2.4m of funding via a joint venture with Downing LLP. The funds were provided to install and maintain 1 MWp of solar photovoltaic panels from twenty 50 kW of rooftop solar PV systems at sites throughout the South West of England.
Jim Shaw and his team have provided a first class service and unparalleled support.
Ethical was founded by Tom Kneen and Peter McIntosh to provide renewable energy solutions in the UK. The business both helps its clients reduce their energy consumption and ensures that the energy that is used comes from renewable sources. This deal put the business at the forefront of the solar installation market and gave it the right resources to take advantage of future developments across this young and high growth area.
Ethical director, Tom Kneen said: “Jim Shaw and his team have provided a first class service and unparalleled support, enabling us to secure the funds required to deliver this project.”
Jonathan Boss, a partner in Downing LLP, said: “We are delighted to be backing an excellent management team to continue to grow their business, which is set to provide reliable long-term returns for our lower-risk VCT funds while helping the UK meet its emission targets.”
Downing manages over £250m of assets across a range of VCTs and other tax-efficient funds. This includes a number of investments in renewable energy.