Ingenious has successfully closed the fund raising for ten Ingenious Solar UK EIS companies. The fund raise exceeded its target and the majority of the aggregate funds raised have now been deployed.
Each Ingenious Solar UK EIS company has acquired a portfolio of solar photovoltaic panels which are fitted on residential properties and are already generating electricity and eligible to receive Government backed Feed-in-Tariff payments. The cumulative investment across these ten companies has funded the purchase of more than 2,000 solar installations.
Ingenious Solar UK EIS exceeded its target raise by a significant margin of 27 per cent, an excellent achievement in an uncertain environment for solar investments.
Jeremy Milne, Managing Director of Ingenious Solar UK EIS, says: “Despite recent uncertainty around Feed-in-Tariffs, we remained committed to creating the best possible opportunity for investors. By agreeing to buy on a fixed yield basis, we were able to give investors exposure to the solar market without taking risk on Tariff changes.
“Our established position in the market has enabled us to offer an opportunity that proved to be very attractive to our investors.”
Following the success of Ingenious Solar UK EIS, Ingenious Clean Energy is looking to launch a new EIS fund shortly which will invest in a variety of renewable energy generating assets including but not limited to solar, wind, biomass and anaerobic digestion.
Ingenious is a leading manager of EIS investments, raising over GBP400 million of funds for EIS investments since 2005 and providing advice and operational assistance to more than 150 EIS qualifying investee companies.
