Foresight Solar Fund Limited enters binding contracts for the acquisition of three solar farms totalling 117MW in Queensland, Australia, from Canadian Solar

Sydney / London, 12 October 2017:  Foresight Group (“Foresight”), a leading independent infrastructure and private equity manager, is pleased to announce that it has entered into binding contracts to acquire interests in three solar farms in Queensland, Australia, from Canadian Solar with an aggregate 117 MW of capacity through Foresight Solar Fund Limited (“FSFL”), increasing FSFL’s portfolio to a net capacity to 622MW once installed.

To view or print this announcement from a pdf click here

The portfolio consists of Longreach Solar Farm (17 MW), Oakey 1 Solar Farm (30MW) and Oakey 2 Solar Farm (70 MW) with FSFL acquiring 49% interest in each of Longreach and Oakey 1, and a 100% interest in Oakey 2.

The acquisitions support FSFL’s international growth strategy and see FSFL’s portfolio expand by 18% in capacity to 23 assets, demonstrating FSFL’s ability to grow the fund in attractive new geographies.

Two of the three solar farms (Oakey 1 and Longreach) hold 20-year offtake agreements with the Queensland Government and are under construction with connection to the grid expected in March and September 2018 respectively. Oakey 2 solar farm is expected to connect to the grid in October 2018 and will benefit from the sale of power and large-scale generation certificates (“LGCs”) under the Renewable Energy Target regulatory framework.

Both Oakey 1 and Longreach have been funded to date by equity from Canadian Solar, grants from the Australian Renewable Energy Agency (“ARENA”), and senior debt from the Clean Energy Finance Corporation (“CEFC”) and Bank of Tokyo-Mitsubishi UFJ.

The acquisitions are subject to certain conditions being met including consents from relevant stakeholders. FSFL, in line with its low risk strategy, will not take development risk for the projects.

This is the third Australian transaction for Foresight in 2017 following the acquisitions of Bannerton and Barcaldine, which increases Foresight’s Australian solar portfolio to 252MW across 5 sites. The transaction is further evidence of the success Foresight has had leveraging the extensive solar experience and track record of Foresight’s global Infrastructure team.

Ricardo Piñeiro, Partner, Foresight Group said: “We are delighted to have made this solar acquisition in Australia on behalf of FSFL. This is an important acquisition for FSFL’s international strategy providing a diversified mix between Queensland Government-backed contracted revenues and merchant revenues. We have enjoyed working closely with Canadian Solar, with whom we look forward to delivering a strong pipeline of future energy projects both in Australia and other international markets.”

“We are pleased to have worked with FSFL and their team to complete successfully this milestone transaction. Canadian Solar is very well positioned in Australia with an 800+MW pipeline of early to late-stage developments and these projects will directly contribute to the Federal Government’s Renewable Energy Target and State Government initiatives to generating affordable clean energy” commented Dr. Shawn Qu, Chairman and Chief Executive Officer of Canadian Solar.

Foresight is seeing significant growth opportunities in renewable energy infrastructure, and is broadening its footprint beyond purely generation assets (solar, wind and bioenergy) into renewables enabling technologies, having recently acquired two utility scale battery storage assets, on top of expanding its portfolio of flexible generation assets in the UK.


For more information contact:
Ben Thompson, Foresight Group: / +44 (0)20 3667 8155
Ricardo Piñeiro, Foresight Group: / +44 (0)20 3667 8112

Canadian Solar Inc. Contacts
Mary Ma David Pasquale
Senior Supervisor, Investor Relations Global IR Partners
Canadian Solar Inc. Tel: +1-914-337-8801

About Foresight Group LLP
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.

Foresight has £2.7 billion (A$4.6 billion) of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).

As a global leading solar infrastructure investment manager, Foresight currently manages more than £1.6 billion (A$2.7 billion) in over 100 operating Photovoltaic ("PV”) plants with a generating capacity of c. 1.2GW in the UK, Southern Europe, Australia and North America.

In Bioenergy, Foresight has mobilised £900m of capital investment into 31 waste projects, which when fully operational will have a waste processing capacity of 1.8million tonnes per annum, diverting some 1 million tonnes of waste from landfill every year and generating 134MW of clean energy, saving 750,000 tonnes of CO2 emissions every year. Foresight manages the A$200 million Australian Bioenergy Fund (“ABF”) which targets investments ranging from A$2m to A$50m into energy from waste projects across the continent backed by a cornerstone investment from the CEFC.

Foresight Group is headquartered in London, with international offices in Sydney, Rome and San Francisco with regional UK offices in Nottingham, Manchester and Guernsey.

About Canadian Solar Inc.
Founded in 2001 in Canada, Canadian Solar is one of the world’s largest and foremost solar power companies. As a leading manufacturer of solar photovoltaic modules and a provider of solar energy solutions, Canadian Solar has a geographically diversified pipeline of utility-scale power projects in various stages of development. In the past 16 years, Canadian Solar has successfully delivered over 22 GW of premium quality modules to over 100 countries around the world. Furthermore, Canadian Solar is one of the most bankable companies in the solar industry, having been publically listed on NASDAQ since 2006.

For additional information about the Company, follow Canadian Solar on LinkedIn or visit

Restricted Disclaimer


Before accessing this website you must confirm you meet the below criteria and are happy to proceed based on the information provided. If you are not able to make this confirmation you must not proceed any further and should decline to accept these terms.



The information contained within this website is issued by Foresight Solar Fund Limited in good faith and is provided for reference purposes only. Nothing herein is intended to be construed as an offer, invitation or inducement to engage in investment activity, or investment advice or recommendation, in relation to the shares of Foresight Solar Fund Limited (or any other entity), and should not be relied upon as such by any person. For the avoidance of doubt, the information provided in this website does not constitute advice or personal recommendation. If you are unsure about the meaning of any information provided on this website, please consult your financial or other professional adviser. Foresight Solar Fund Limited, Foresight Group LLP and Foresight Group CI Limited cannot and do not offer investment advice.

Prospective investors in Foresight Solar Fund Limited should carefully read the terms and conditions of any current legal documents, as well as all other documents that may be required on the basis of local provisions of law and regulations, before making any investment decision. Prospective investors should be aware that this website may not provide all the information which is necessary or desirable to make an investment decision and should undertake their own due diligence. Where relevant, a Prospectus will be prepared and it shall contain more complete information about the shares and should be read carefully before investing. A detailed study of the legal information and indications of risk contained within any Prospectus is of particular importance. Investment decisions should not be made on the basis of information on this website only.

It is recommended that persons take advice from their financial or other professional advisers before making any investment decision.

Nothing on this website is directed at any person outside the UK where the publication or availability of such information is prohibited or restricted. The information contained herein and on the pages that follow does not constitute an offer to purchase securities in the United States or in any jurisdiction in which such an offer or solicitation would be unlawful. In particular it should be noted that the ordinary shares of Foresight Solar Fund Limited have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States and Foresight Solar Fund Limited has not registered, and does not intend to register, as an investment company under the U.S. Investment Company Act 1940 (the "Investment Company Act"). Accordingly, the ordinary shares of Foresight Solar Fund Limited may not be offered, sold, resold, pledged, distributed or otherwise transferred or delivered into or within the United States or to, or for the account or benefit of, any US persons (as defined in Regulation S under the Securities Act) except in a transaction meeting the requirements of an applicable exemption from the registration requirements of the Securities Act and in a manner that would not require registration of Foresight Solar Fund Limited under the Investment Company Act. There will be no offer of the ordinary shares of Foresight Solar Fund Limited in the United States.

If you are accessing this website from the Republic of South Africa, (or any person for whom you are acting) is in South Africa, you hereby confirm that you (and any such person) are included in the categories of persons pertaining to "offers that are not offers to the public" as contained in section 96(1) of the South African Companies Act.

This website should not be considered to be an invitation or inducement to engage in investment activity. Regardless, the information contained on the pages that follow is directed only at persons outside the United Kingdom to whom it is lawful to communicate to and/or persons within the UK who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended), or (ii) high net worth companies, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended); provided that in the case of persons falling into categories (i) or (ii), the communication is only directed at persons who are also "qualified investors" as defined in section 86 of the Financial Services and Markets Act 2000 (each a "Relevant Person"). Any investment or investment activity to which the information contained on the pages that follow relates is available only to and will be engaged in only with such Relevant Persons. Persons within the United Kingdom (other than persons falling within (i) and (ii) above) should not rely on or act upon the information contained on the pages that follow.

The information on this website is subject to copyright with all rights. It must not be reproduced, copied or redistributed in whole or in part. Third party links or other external websites accessed via this website will not have been developed or otherwise reviewed by Foresight Solar Fund Limited, Foresight Group LLP or Foresight Group CI Limited, and none of these  entities is responsible for damages or losses caused by any delays, defects or omissions that may exist in the services, information or other content provided in this website.

If you are not permitted to view any Prospectus and/or other materials on this website or are in any doubt as to whether you are permitted to view these materials, please exit this webpage.

General Risk Warning:

Please remember that past performance of an investment is not necessarily a guide to future performance. The value of an investment and the income from it can fall as well as rise as a result of market and currency fluctuations and you may not get back the amount originally invested. The market value of the shares of Foresight Solar Fund Limited may not reflect the underlying net asset value of the investments held by Foresight Solar Fund Limited. Foresight Solar Fund Limited is able to borrow to raise further funds for investment purposes if the fund manager and the board of directors consider that it may be commercially advantageous to do so. This is generally described as "gearing". An investment fund which has made investments as a result of gearing may have a more volatile share price as a result; gearing can increase shareholder returns in rising markets but conversely can increase the extent to which the value of the funds attributable to shareholders decreases in falling markets. Tax assumptions may change if the law changes and the value of tax relief (if any) will depend upon your individual circumstances. Investors should consult their own tax advisers in order to understand any applicable tax consequences.

The information on the pages that follow may contain forward looking statements.  Any statement other than a statement of historical fact is a forward looking statement.  Actual results may differ materially from those expressed or implied by any forward looking statement.  Foresight Solar Fund Limited does not undertake any obligation to update or revise any forward looking statements, whether as a result of new information, future events, or otherwise.  You should not place undue reliance on any forward looking statement, which speaks only as of the date of its issuance.

Nothing in this website should be construed as investment, tax, legal, or other advice, nor is it to be relied upon in making an investment decision. Those accessing the website should consult their financial advisers regarding the suitability of any of the products referred to on this website. 


Foresight Solar Fund Limited believes that the information displayed on this website is accurate as at the date of publication, but we do not warrant or guarantee the accuracy, completeness or currentness of any information (including any opinions or projections). To the fullest extent permitted by law Foresight Solar Fund Limited and its directors, advisers or representatives shall not have any responsibility or liability whatsoever (for negligence or otherwise) for any loss howsoever arising from any use of this website or its contents or otherwise arising in connection with this website. Further, the information displayed may be amended at any time and without notice. By continuing to use this website, you agree to the exclusion by us, to the extent permitted by applicable law and regulation, of any and all liability for any direct, indirect, punitive, consequential, incidental, special or other damages, including, without limitation, loss of profits, revenue or data arising out of or relating to your use of and our provision of this website and its content. Reference in this website and/or the materials to any hypertext link, product, process, or service does not imply Foresight Solar Fund Limited’s support for, or endorsement or recommendation of the provider thereof or the product, process, or service to which reference is made. Foresight Solar Fund Limited's website may contain hypertext links to other websites, resources, or other third parties.  Foresight Solar Fund Limited is not responsible for the availability of, and accepts no liability in relation to, these external websites or their contents.  Foresight Solar Fund Limited is not a sponsor, partner, promoter, or publisher of any such website.

By proceeding, you are representing that you have understood and accepted the terms, conditions and restrictions noted herein. You also (i) agree that such information will apply to any subsequent access to the website, and that all such subsequent access will be subject to the disclaimers, risk warnings and other information set out herein and (ii) warrant that no other person will access this website from the same computer and logon as you are currently using.

Enforcement of terms and conditions

These terms and conditions are governed and interpreted pursuant to the laws of England and Wales. If any part of these terms and conditions is deemed unlawful, void or unenforceable, that part will be deemed severable and will not affect the validity and enforceability of the remaining provisions. None of these terms and conditions are enforceable under the Contracts (Rights of Third Parties) Act 1999 by a person who is not a party to its terms.

If you are dissatisfied with any aspect of this website, or of its contents, your sole and exclusive remedy is to discontinue use of this website.