Executive Summary: As a growth investor, Aubrey is looking for publicly traded companies with long-term structural growth opportunities. Having identified the potential of solar energy around the time we started the firm, back in 2006, we have invested in the sector over two periods, the first prior to the Global Financial Crisis, when we were invested in German solar cell and module manufacturers, such as Q-Cells and Solarworld, and more recently since the end of 2020.
We wanted to look more widely at the European renewables sector because there is a lot of hype about it, and we wanted some supporting evidence for our investee companies’ growth projections.