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Foresight’s 50MW Guzman solar project in Andalusia connects to the grid and generates at 100% capacity

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  • 150,000 panel solar plant, constructed by Solaer, is fully commissioned.
  • Providing up to 85 GWh per annum under 10-year PPA to EDF Trading
  • Strong future pipeline of deals for Foresight in Iberia

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Madrid/London, 21 August 2020: Foresight Group LLP (“Foresight”) is pleased to announce the successful grid connection of its 50MW Guzman solar power plant in Puebla de Guzman, south-west Spain, which has started exporting clean electricity from 19th August.

The plant, which was acquired by Foresight in April 2019 and built in a turn-key basis by the Spanish EPC Contractor SOLAER, and which entered into a 10-year power purchase agreement (PPA) with EDF Trading in December 2019, comprises 150,000 solar panels and will generate around 85GWh every year, making a significant contribution to Spain’s emissions targets.

Adolfo Guerrero, Technical Manager at Foresight, commented ““We are delighted to announce that the solar farm Guzman has become fully operational, being the largest solar plant and grid infrastructure acquired in Spain on a construction risk basis, and becoming feasible to connect the plant to the 220/66 kV Substation Sierra del Andevalo.” He added “It has been a pleasure to work with such a committed team who together have managed to complete the plant successfully.

The project is the latest of Foresight’s 150MW portfolio of unsubsidised solar assets in the Iberian region to become fully operational. Foresight has a strong pipeline of unsubsidised solar projects and is in the process of making further acquisitions in the region.

Carlos Rey, Director at Foresight and Head of Iberia, commented: “The Guzman project is, to date, our largest operational solar facility in Iberia and we are delighted to consolidate our presence in the region. At Foresight we are committed to investing for a smarter future and providing subsidy-free clean energy from the sun as a legacy for future generations is a major part of that commitment.”

ENDS

For further information, please contact:

Ben Thompson, Consultant, Foresight Group: bthompson@foresightgroup.eu | +44 (0)20 3667 8155

 

Notes for Editors:

About Foresight Group (“Foresight”):

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 36 years.

Foresight has €7.2 billion of Assets Under Management, of which over €4.9 billion relates to renewable energy infrastructure. Foresight currently manages more than 250 renewable generation assets globally, with a total generating capacity of 2.5GW.

Foresight manages over 140 solar plants and has more than 1.3GW of solar generation assets under management around the world.

Foresight has more than 600MW of wind generation assets across the UK, France, Germany and Sweden of which 370MW are operational.

Foresight manages over 40 bioenergy and waste projects processing some two million tonnes of waste every year, having mobilised more than £1 billion of capital investment into the sector.

In addition, Foresight manages 190MW of Reserve Power assets and three utility scale Battery Storage projects providing 46MW of Enhanced Frequency Response services to National Grid.

Foresight is headquartered in London with regional offices in Manchester, Nottingham, Edinburgh, Cambridge, Milton Keynes, Leicester and Guernsey and international offices in Sydney, Rome, Madrid, Luxembourg and Seoul.

www.foresightgroup.eu