Foresight Solar Fund Limited (FSFL) has acquired a portfolio of 11 operational solar farms in the UK for a total consideration of £33.1 million.
Foresight Solar Fund has issued almost 54 million ordinary shares in an effort to raise £34 million to transfer ownership of 11 solar farms from other funds managed by the Foresight Group.
Foresight Solar Fund is targeting the purchase of a 72MW solar farm portfolio for just over £30 million as the investor continues its pattern of acquisitions over 2018.
Foresight Solar Fund (FSF) recorded above-expectation performance on the back of strong summer sun, but incidents including cable theft and other outages have beset the fund’s operations.
Foresight Solar Fund (FSFL) has laid claim to the top spot among UK-listed solar investors having completed the acquisition of a 114MW portfolio.
Foresight Solar Fund has increased its exposure to solar power purchase agreements (PPAs) to reduce cash flow volatility, the company has said.
Foresight Solar Fund has announced the addition of five new solar parks to its portfolio, totalling 53.3MW in capacity.
Foresight has revealed it recouped around £13 million in compensation for lost production last year as it cast its eyes beyond what it has termed a “transitionary” year for UK solar.
Foresight Group is expecting to close its first battery storage acquisition in the coming weeks as it looks to complement its existing infrastructure portfolio.
Foresight Solar Fund has set its sights on a new pipeline of solar assets with a capacity of 250MW and announced a new share issuing and placing programme to fund it.
Foresight Solar Fund has continued to experience serious underperformance issues with SunEdison-built assets that it owns a year after the problems were first made public.
Foresight Solar Fund has acquired the 72MWp Shotwick Solar Park, which remains the UK’s largest by generation capacity.