Foresight Solar Fund has added another large utility-scale solar farm to its portfolio, this time a 34.7MW asset in Wiltshire.
The asset management firm revealed the purchase in a statement to the market this morning, adding that the 1.4ROC-accredited Port Farm takes the company’s total asset capacity to 322MW.
Port Farm was one of a number of Renesola assets connected to the grid prior to March's RO deadline, and its sale to Foresight continues the two companies' association in the UK market.
The purchase was funded using Foresight’s existing £150 million acquisition facility and the company expects to repay the cost through a long-term debt facility and further equity raises in the future.
Just last month Foresight completed a deal with Belectric UK subsidiary Big60Million to acquire stakes in three of its solar farms with a total capacity of 34MW, and earlier this month said it was pursuing a 300MW pipeline of assets in the UK.
Foresight chairman Alexander Ohlsson said at the time that he believed the UK solar market was still an “attractive” one to invest in with a “strong pipeline of potential opportunities”.