- 49.6MW solar farm acquired by Foresight Solar Fund Ltd. from developer Goldbeck Solar
- Located on a 200 acre site in Sandridge, Wiltshire Farm comprising 191,760 solar panels
- FSFL portfolio grows to 18 assets with a combined peak capacity of 470MW
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London, 10 March 2017: Foresight Solar Fund Limited ("FSFL”) and Goldbeck Solar Ltd ("Goldbeck”) are pleased to announce the completion of the acquisition by FSFL of the 49.6 MW Sandridge solar farm ("Sandridge”) which was developed by Goldbeck.
The project, which is located on a 200 acre site in Sandridge, Wiltshire, connected with a 132 kV substation, includes 191,760 individual Polycrystalline Silicon solar panels. Sandridge received a Renewables Obligation Certificate ("ROC”) accreditation of 1.3ROCs/MWh and is fully operational, having been commissioned in March 2016.
Goldbeck and FSFL have previously collaborated on the 37MW Bournemouth Solar asset, where Goldbeck acted as EPC contractor.
Earlier in February 2017, FSFL completed the acquisition of Shotwick, the UK’s largest solar farm at 72MW peak capacity, which supplies clean power to the adjacent Shotton Paper Mill in a ground-breaking private wire arrangement. FSFL now has a portfolio of 18 solar farms in the UK with an installed capacity of around 470 MW, which represents an average capacity of 26 MW per plant.
Ricardo Pineiro, Partner and Head of UK Solar at Foresight, commented: "We are delighted to announce the acquisition of Sandridge, FSFL’s second deal of 2017 and the second largest acquisition to date. The completion of these two large-scale operational solar assets in rapid succession is a further evidence of Foresight’s commitment towards renewable energy generation assets both in the UK and globally. FSFL has established itself at the forefront of the UK solar market, as we move towards decentralised energy production and away from dependence on fossil fuels.”
Joachim Goldbeck, Managing Director, Goldbeck, commented: "We are pleased to have sold the Sandridge project to Foresight, furthering the collaboration our teams have had on a number of projects over the past couple of years. Goldbeck is committed to the deployment of solar, and the 49.6MW capacity plant presents a huge potential for renewable energy generation in the South West region.”
Advisers on this deal included:
Legal: Osborne Clarke
Financial and Tax: EY
Accreditation and Commissioning: Black and Veatch
For more information contact:
Ben Thompson, Foresight Group: firstname.lastname@example.org / +44 (0)20 3667 8155
Bjoern Lamprecht, Goldbeck, email@example.com / +49 (0)6201 8777 5501
Notes to editors
About Foresight Solar Fund Limited ("FSFL")
FSFL is the largest of the solar focused renewables infrastructure companies listed on the London Stock Exchange in terms of operational assets. Having raised £150 million at IPO in October 2013, FSFL has since raised a further £195.7 million from institutional investors and private investors, and continues to deliver its target return which, for calendar year 2016, was 6.17p per share.
The Company invests in ground-based UK solar power assets with the objective of delivering a sustainable and increasing index-linked dividend to shareholders with the potential for capital growth over the long-term. The Company's 470MW, eighteen asset portfolio is fully operational and accredited.
About Foresight Group LLP
Foresight is a leading independent infrastructure and private equity investment manager which has been managing investment funds on behalf of institutions and retail clients for more than 30 years.
Foresight has £2.3 billion of Assets Under Management across a number of funds, including Listed Vehicles, Limited Partnerships, Enterprise Investment Schemes (EISs) and Venture Capital Trusts (VCTs).
As one of Europe’s leading solar infrastructure investment teams, Foresight funds currently manage more than £1.3 billion in some 80 operating Photovoltaic ("PV”) plants in the UK, Southern Europe, Australia and North America.
Foresight is proud to have sponsored Foresight Natural Energy, the 2016/17 Vendee Globe boat of Kiwi sailor Conrad Colman, who against considerable obstacles, including a dismasting 750 nautical miles from home, successfully crossed the finish line under jury rig at Les Sables d’Olonne on 24 February after 110 days at sea having circumnavigated the globe single handed, non-stop and without assistance, using zero emissions. #crazykiwi
Foresight Group is headquartered in London, with international offices in Rome, San Francisco and Sydney and regional UK offices in Nottingham, Manchester and Guernsey.
About Goldbeck Solar Ltd. (Goldbeck)
GOLDBECK Solar Ltd. has been established as the UK subsidiary of GOLDBECK Solar GmbH. GOLDBECK Solar GmbH has been founded in 2001 as a subsidiary of the construction and service company GOLDBECK GmbH, which offers construction works and solar energy plants from a single source. GOLDBECK Solar focuses on the planning, realization and maintenance of flat roof and ground-mounted systems at home and abroad and develops energetic system solutions for industrial buildings. Fast, cost efficient solutions – secured by many years of experience and high financial solidity – characterize the range of services. Until March 2017 more than 500 plants have been built and more than 600 Megawatt Peak are under technical operation and management. More information on the family company can be found under www.goldbeck-solar.de