Foresight Solar Fund Limited ("FSFL” or the "Company”) is pleased to announce that it has completed the acquisition of a 34.7MW operational asset.
The 34.7MW Port Farm asset, located in Wiltshire, was connected to the Grid in March 2015 and has received Renewable Obligation Certificate ("ROC”) accreditation at the rate of 1.4ROCs/MWh.
The acquisition has increased the Company’s net portfolio of assets to 322MW.
The acquisition of the portfolio has been funded using the Company’s existing £150 million acquisition facility. The Company expects to repay the facility through refinancing with a long-term debt facility and/or further equity raises.
For further information, please contact:
Elena Palasmith email@example.com
+44 (0)20 3667 8100
Stifel +44 (0)20 7710 7600
J.P. Morgan Cazenove +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.