August 6 (Solar) – Foresight Solar Fund Ltd (LON:FSFL) said today it has finalised the acquisition of a 114-MW photovoltaic (PV) portfolio in the UK for about GBP 47 million (USD 61m/EUR 53m).
The purchase price includes the economic benefit of all cash flows from April 1, 2018, and will be funded by the net proceeds of a recently completed share placement.
“The acquisition will be NAV-accretive and will further underpin our sustainable, long-term dividend policy," said Alex Ohlsson, chairman of the company.
The table below gives more details about the 15 assets within the portfolio, which was previously owned by funds managed by Foresight Group LLP.
|Trehawke||Cornwall||10.6 MW||March 2014||1.6 ROCs/MWh|
|Homeland||Dorset||13.2 MW||March 2014||1.6 ROCs/MWh|
|Steventon||Oxfordshire||10.0 MW||June 2014||1.4 ROCs/MWh|
|Welbeck||Nottinghamshire||11.3 MW||July 2014||1.4 ROCs/MWh|
|Tengore Lane||Somerset||3.6 MW||February 2015||1.4 ROCs/MWh|
|Cuckoo Grove||Pembrokeshire||6.1 MW||March 2015||1.4 ROCs/MWh|
|Field House||Hampshire||6.4 MW||March 2015||1.4 ROCs/MWh|
|Gedling||Nottinghamshire||5.7 MW||March 2015||1.4 ROCs/MWh|
|Marsh Farm||Wiltshire||9.1 MW||March 2015||1.4 ROCs/MWh|
|Abergelli||South Wales||7.7 MW||March 2015||1.4 ROCs/MWh|
|Upper Huntingford||Gloucestershire||7.7 MW||October 2015||1.3 ROCs/MWh|
|Yarburgh||Lincolnshire||8.1 MW||November 2015||1.3 ROCs/MWh|
|Sheepbridge||Reading||5.0 MW||December 2015||1.3 ROCs/MWh|
|Crow Trees||Nottinghamshire||4.7 MW||March 2016||1.3 ROCs/MWh|
|Fields Farm||Warwickshire||5.0 MW||March 2016||1.3 ROCs/MWh|
The portfolio currently has debt facilities provided by the Royal Bank of Scotland with a total value of GBP 107.2 million and the company plans to refinance it, along with other UK assets, within the next 12 months.
(GBP 1.0 = USD 1.298/EUR 1.122)