PV investor the Foresight Solar Fund plans to raise £100 million in a new share offering to purchase two recently completed projects.
The two 37MW sites in Bournemouth and Kencot in Oxfordshire have now both been connected to the grid.
The company said the new offering would allow it “to take advantage of the prevailing market conditions and investment opportunities”.
It is also proposing the establishment of a so-called placing programme that together with its existing debt facilities, would allow Foresight to buy projects on what it terms a more opportunistic basis.
The removal of renewable obligation (RO) support for solar projects over 5MW from April next year, could be the reason behind the fund’s desire to be able to be more responsive to potential purchases.
Foresight is already contracted to acquire the two sites, which take its total operating assets to 185MW.