•  
  •  
  •  

Foresight Solar buys 53.3-MW UK portfolio

Solar panels in London. Author: Tom Page. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.

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.

Name Capacity Location Commissioning date Support
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)

More stories to explore
Share this story
Tags
 
About the author
Browse all articles from Ivan Shumkov

Ivan is the mergers and acquisitions expert in Renewables Now with a passion for big deals and ambitious capacity plans.

More articles by the author
5 / 5 free articles left this month
Get 5 more for free Sign up for Basic subscription
Get full access Sign up for Premium subscription