Foresight Solar Fund Limited ("FSFL" or the "Company"), is pleased to announced that it has signed a binding contract to acquire a 30MW solar asset located in Nottinghamshire. The asset is expected to qualify for the 1.3 Renewable Obligation Certificate ("ROC”) banding under the Renewable Obligation ("RO”) 12 month grace period for projects greater than 5MW. Once operational, this will increase the portfolio capacity to 263MW.
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The Company continues to negotiate further acquisitions having secured exclusivity over an attractive pipeline of assets, including a 51MW 1.4 ROC operational portfolio. The Company expects to take advantage of this pipeline using a combination of proceeds raised under its Placing Programme together with existing debt facilities.
For further information, please contact:
Elena Palasmith firstname.lastname@example.org
+44 (0)20 3667 8100
+44 (0)20 7710 7600
J.P. Morgan Cazenove
William Simmonds+44 (0)20 7742 4000
Notes to Editors
About Foresight Solar Fund Limited ("The Company" or "FSFL")
FSFL is a Jersey-registered closed-end investment company. The Company invests in ground based UK solar power assets to achieve its objective of providing Shareholders with a sustainable and increasing dividend with the potential for capital growth over the long-term.
The Company raised proceeds of £150m through an initial public offering ("IPO”) of shares on the main market of the London Stock Exchange in October 2013. In October 2014, the Company announced a Placing Programme of up to 200 million Shares, open until September 2015, under which £134.9m has been raised to date.
About Foresight Group
Foresight Group was established in 1984 and today is a leading independent infrastructure and private equity investment manager with over £1.5 billion of assets under management. As one of the UK’s leading solar infrastructure investment teams Foresight funds currently manage over £1 billion in over 50 separate operating Photovoltaic ("PV”) plants in the UK, the USA and Southern Europe.
Foresight Group has offices in London, Nottingham, Guernsey, Rome and San Francisco.