Foresight Solar Fund has added to its portfolio with the acquisition of the remaining minority equity positions in three 1.4 ROC solar farms.
The company now owns 30% of the minority positions in the 10MW Southam farm, 41% in a 9MW asset in Paddock Wood, and 22% in the 15MW Atherstone development.
Following the acquisitions the company will own 100% of the share capital in the three assets, all of which remain operational and accredited under the 1.4 ROC subsidy regime.
According to Alex Ohlsson, chairman of Foresight Solar Fund, the acquisitions are the first in a pipeline of 82MW the company recently announced it was targeting for purchase by the end of the year.
“These acquisitions represent the first from the company's previously announced 82MW exclusive pipeline and reflect the investment manager's ability to quickly deploy investor funds into cash generating assets,” he said.
The acquisitions have been funded using the equity proceeds recently raised by the company and, representing the equivalent of 10MW, have increased the company's portfolio of assets to 348MW.