Foresight gains leading position in Australia's solar sector

Share on

Sydney / London:  Foresight Group’s (“Foresight’s”) Sydney office has established a portfolio of five large scale solar projects in 2017 representing more than 250MW of capacity and over $400m of investment.

  • Four Queensland projects of 142MW
  • 110MW Bannerton project in Victoria to power the Melbourne Tram System

To read or print this announcement from a pdf click here

The four projects in Queensland (Barcaldine, Oakey 1, Longreach and Oakey 2) and Foresight’s self-developed project in Victoria (Bannerton) represent together the largest single portfolio of solar projects in Australia.

As a leading UK solar asset manager, Foresight has leveraged its international network of solar developers and extensive solar investment experience to make swift progress in the Australian market.

Led by Carly Magee, the Foresight team has brought its European and US solar track record to bear in Australia by seconding experienced investment managers to Sydney and combining established expertise in the sector with Sydney-based investment resource.

Since Gary Sofarelli was hired from National Australia Bank to lead Foresight’s Sydney office in early 2016, he has arranged exclusive access to a number of Australian bioenergy projects.

These projects are expected to kick start the Anaerobic Digestion sector in Australia in 2018 replicating Foresight’s successful asset management arrangement with the UK’s Green Investment Bank (recently acquired by Macquarie), where it has acquired eighteen AD projects alongside other utility scale Energy from Waste projects amounting to over 130MW of generating capacity.

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.”


For more information contact:

Ben Thompson, Foresight Group: / +44 (0)20 3667 8155

Carly Magee, Foresight Group:  / +44 (0)20 3667 8121

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 A$4.6 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 a global leading solar infrastructure investment manager, Foresight currently manages more than A$2.1 billion in some 85 operating Photovoltaic ("PV”) plants with a generating capacity of over 1.1GW in the UK, Southern Europe, Australia and North America.

In Bioenergy, Foresight has mobilised A$1.5 billion of capital investment into 31 waste projects, which when fully operational will have a waste processing capacity of 1.8 million tonnes per annum, diverting some 1 million tonnes of waste from landfill every year and generating 134MW of clean energy, saving 750,000 tonnes of CO2 emissions every year. Foresight manages the A$200 million Australian Bioenergy Fund (“ABF”) which targets investments ranging from A$2m to A$50m into energy from waste projects across the continent backed by a cornerstone investment from the CEFC.

Foresight Group is headquartered in London, with international offices in Sydney, Rome and San Francisco with regional UK offices in Nottingham, Manchester and Guernsey.