April 20 (Renewables Now) - Foresight Solar Fund Ltd (LON:FSFL) said today it has acquired a 53.3-MW portfolio of operational photovoltaic (PV) parks in the UK, expanding its own portfolio to include 27 solar assets totalling 674 MW.
The fund has acquired the assets mentioned in the table below for a total of GBP 36.6 million (USD 51.4m/EUR 41.7m), including transaction costs and about GBP 4.2 million of cash balances. The newly purchased portfolio comes with a long-term, fully amortising debt facility provided by Macquarie Infrastructure Debt Investment Solutions. The balance outstanding is GBP 31.8 million.
|Verwood||20.7 MW||Dorset||May 2015||1.4 ROCs/MWh|
|Park Farm||13.2 MW||Leicestershire||July 2015||1.4 ROCs/MWh|
|Coombeshead||9.8 MW||Devon||August 2015||1.4 ROCs/MWh|
|Sawmills||6.6 MW||Devon||September 2015||1.4 ROCs/MWh|
|Yardwall||3 MW||Somerset||September 2015||Feed-in Tariff (FiT)|
The acquisition portfolio also includes a FiT-backed, 0.5-MW onshore wind asset that has been operating since 2014. The company plans to hold this asset on a temporary basis until it can be sold.
Foresight Solar has paid for the purchase using its existing revolving credit facilities. Its total outstanding debt now amounts to GBP 276.2 million.
(GBP 1.0 = USD 1.406/EUR 1.140)