Foresight Solar Fund Limited: Acquisition
Foresight Solar Fund Limited ("FSFL" or the "Company") is pleased to announce that it has completed the acquisition of a 16MW operational asset.
The 16MW Membury asset, located in Hungerford, was connected to the Grid in March 2015 and has received Renewable Obligation Certificate ("ROC") accreditation at the rate of 1.4ROCs/MWh.
Membury is the second asset of the previously announced 51MW exclusive portfolio together with the 35MW Port Farm asset acquired by the Company in August 2015.
The acquisition has been funded using the Company's existing £150 million acquisition facility. The Company expects to repay the facility through refinancing with a long-term debt facility and/or further equity raises.
ENDS
For further information, please contact:
| Foresight Group | ||
| Elena Palasmith | epalasmith@foresightgroup.eu | +44 (0)203 667 8100 |
| Stifel | +44 (0)20 7710 7600 | |
| Mark Bloomfield | ||
| Neil Winward | ||
| Tunga Chigovanyika | ||
| J.P. Morgan Cazenove | +44 (0)20 7742 4000 | |
| William Simmonds |
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 £134.9 million 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 £1.6 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 60 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.