Foresight Solar Fund has confirmed it is to launch yet another fund raising drive, this time to close the purchase of 82MW of UK solar assets prior to the end of the year.

A statement to the market this morning confirmed that Foresight is seeking to issue around 31 million shares through a TAP issuance in a bid to raise just under £32 million after entering into binding agreements to purchase the assets, which are a mix of 1.4 and 1.3 ROC accredited solar farms.

The bookbuilding process is being jointly run by Stifel Nicolas Europe and JP Morgan Cazenove, and Foresight noted that the net proceeds of the issue will contribute towards this purchase as well as others it is lining up in the coming months.

Last month Foresight said it had narrowed in on a 200MW pipeline of UK assets which it was intending to raise £30 million for through a separate placing of 28 million ordinary shares held in its treasury.

Meanwhile, Foresight yesterday held a general meeting at which it disclosed that its net asset value had risen from 99.3p per share on 30 June 2016 to 100.7p on 30 September, which it attributed to an upward adjustment in its power curve, a change in business rates valuations and “ongoing portfolio optimisation” conducted by the firm’s investment manager.