News

Completion of Acquisition and Portfolio Update

The Company’s total equity investment, including construction cost, has increased to c. A$74m and will be funded by the existing Revolving Credit Facility (“RCF”). The increase is the result of an amendment to the Oakey 2 capital structure to deliver a more conservative gearing position. The total consideration paid to the vendor for the Acquisition Portfolio has broadly remained unchanged.

Foresight starts construction of Torre de Cotillas 1, a 3.9 MW solar farm in Murcia, Spain

Once operational, the Project will deliver 7 GWh of green electricity per year which will be sold under a long-term power purchase agreement (PPA), the first of its kind in the solar industry, with the Spanish offtaker Energya-VM, which is part of the energy division of the Spanish corporation Grupo Villar Mir.

Foresight’s Gedling Solar Farm in Nottingham generates premium golden nectar

Gedling Solar Farm, owned and operated by Foresight Group, the independent infrastructure and private equity investment manager, has 23,000 solar modules across the 14-hectare site. It is estimated that the farm generates enough clean electricity to power 1,000 local homes every year. The site is the former Gedling Colliery which has been unused since its closure in 1991.

Foresight sells 16MW UK FiT solar portfolio to KIAMCO

Foresight invests £3m in coffee roaster 200 Degrees

200 Degrees successfully differentiates itself as an independent coffee shop, offering high quality coffee and freshly prepared deli style food in a distinctive atmosphere. The team has grown the business rapidly and opened five new stores in the last 18 months in Nottingham, Birmingham, Leeds, Leicester and Cardiff. With dedicated barista schools and a quality coffee product, 200 Degrees is becoming a highly regarded brand in the rapidly expanding and fiercely competitive coffee market.

Foresight launches new Infrastructure Income Fund

Foresight believes that renewable energy and infrastructure are attractive asset classes as they are characterised by stable and predictable demand, high barriers to entry and long term contracted revenue streams. UK listed renewable energy and infrastructure funds / investment companies also benefit from protection from inflation as a high proportion of underlying asset revenues are directly linked to inflation. The comfortable spread between listed UK renewable energy and infrastructure funds’ discount rates and the risk-free rate provides a further buffer to interest rate rises.

Foresight Solar Fund Limited: Total Voting Rights (1)

Foresight Solar Fund Limited: Dividend Announcement (2)

ForVEI enters into a a binding contract with ERG for the sale of 100% of ForVEI to ERG

Enrico Orsenigo, Chairman of ForVEI and Managing Director at VEI Green declared: “This transaction reflects the perfect alchemy between the partners of ForVEI, which led the transition from single investments to utility scale platform. The Italian renewable sector continues to offer interesting opportunities and we expect to replicate today’s successful achievement with a ForVEI second vintage for which together with Foresight we have already identified a list of suitable targets.”

Foresight gains leading position in Australia's solar sector

Commenting on Foresight’s dynamic entry into the Australian renewables sector, Carly Magee, Director for Foresight said: “We are very pleased that our strong solar track record has facilitated these significant acquisitions here in Australia.  The solar market moves very quickly and we were fast to establish a cross-border team at the start of 2016 to capitalise on the opportunities. We are already looking at the solar aggregation opportunity based on our experience of driving investment performance and incremental value in this sector.”

Foresight Solar Fund Limited (the “Company) Results of Placing

This announcement is an advertisement and not a prospectus.  Any investment in any shares referred to in this announcement may be made only on the basis of information in a prospectus published by Foresight Solar Fund Limited on 3 March 2017, in connection with an initial placing, offer for subscription, private placement and a placing programme of ordinary shares of no par value each, to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to trading on the Main Market for listed securities of the London Stock Exchange plc (the ”Prospectus”). Attention is also drawn to the terms and conditions at the bottom of this announcement.

Proposed Placing and Net Asset Value Update 25/10/2017

The Company also announces its unaudited NAV as at 30 September 2017 was £426 million, resulting in a NAV per ordinary share of 102.9 pence (30 June 2017: 104.6 pence). The decrease in NAV is mainly attributable to a downward revision of power price assumptions over the three months to the end September 2017. The Gross Asset Value (“GAV”) including Company and Subsidiaries as at 30 September 2017 is £638.1 million. The Company's equity discount rate for UK investments remains unchanged at 7.25%.