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Foresight Solar Fund closes 114-MW PV portfolio buy

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Foresight Solar Fund closes 114-MW PV portfolio buy


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.

Name Location Capacity Commissioned ROC accreditation
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)


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