Foresight Solar Fund Limited ("FSFL" or the "Company") confirms that the Chancellor’s budget announcements, including the removal of the Climate Change Levy exemption from UK Renewable Energy, will result in an estimated reduction of c.3% in portfolio valuation.
The dividend target of 6.08p per share in calendar year 2015 is maintained.
The Company does not anticipate any further regulatory changes that could impact NAV or dividend target.
The Company will be reporting half-year results and NAV as at 30 June 2015 on Wednesday 5 August 2015
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Elena Palasmith firstname.lastname@example.org
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+44 (0)20 7710 7600
JP Morgan Cazenove
William Simmonds+44 (0)20 7742 4000
Notes to Editors
About Foresight Solar Fund Limited ("The Company" or "FSFL")
FSFL is a Jersey-registered closed-end investment company. The Company invests in ground based UK solar power assets to achieve its objective of providing Shareholders with a sustainable and increasing dividend with the potential for capital growth over the long-term.
The Company raised proceeds of £150m through an initial public offering ("IPO”) of shares on the main market of the London Stock Exchange in October 2013. In October 2014, the Company announced a Placing Programme of up to 200 million Shares, open until September 2015, under which £134.9m has been raised to date.
About Foresight Group
Foresight Group was established in 1984 and today is a leading independent infrastructure and private equity investment manager with over £1.5 billion of assets under management. As one of the UK’s leading solar infrastructure investment teams Foresight funds currently manage over £1 billion in over 50 separate operating Photovoltaic ("PV”) plants in the UK, the USA and Southern Europe.
Foresight Group has offices in London, Nottingham, Guernsey, Rome and San Francisco.