Foresight Group has sold a 16MW portfolio of feed-in tariff-accredited solar farms to Korean asset management firm KDB Kiamco.
The portfolio consists of four assets – Kent, Malmesbury, Puriton and Bridgwater – which were originally acquired in late 2011 and early 2012 by funds under Foresight’s management.
Foresight will continue to act as portfolio manager for the four sites.
Carly Magee, director at Foresight, said the firm was delighted to complete the transaction with Kiamco, one of Foresight’s long-term institutional investors.
“Although the sale is the first involving UK assets, it is the third transaction in a year where Foresight and Kiamco have worked together following the acquisition of two solar projects in Australia. We look forward to working closely with Kiamco to identify future opportunities around the globe,” she said.
Kiamco’s Jay Shin meanwhile lauded what has become his firm’s maiden investment into UK solar.
“It has been a pleasure to work alongside the experienced team at Foresight and we look forward to building upon the relationship with further investments in overseas infrastructure assets,” he said.