Foresight Solar Fund closes buy of 80.9-MW UK portfolio

UK solar park. Author: Robert Pittman. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

Foresight Solar Fund Ltd (LON:FSFL) said today it has closed the acquisition of an 80.9-MW solar portfolio in the UK from funds managed by Foresight Group LLP.

The fund paid GBP 33.1 million (USD 42.3m/EUR 37m) for 11 operational solar parks, using proceeds from a recent GBP-58-million equity issue. More details about the acquired assets are available in the table below.

Name	Location	Capacity	Operational since	ROC accreditation
Bull's Head	Milton Keynes	5.3 MW	October 2014	1.4 ROCs/MWh
Bilsthorpe	Nottinghamshire	5.7 MW	November 2014	1.4 ROCs/MWh
Roskrow	Cornwall	8.9 MW	March 2015	1.4 ROCs/MWh
Nowhere	Lincolnshire	8.1 MW	March 2015	1.4 ROCs/MWh
Ash Farm	Shropshire	8.4 MW	March 2015	1.4 ROCs/MWh
Pen & Cae	Carmarthenshire	6.8 MW	March 2015	1.4 ROCs/MWh
PS Manor Farm	Bedfordshire	14.2 MW	October 2015	1.3 ROCs/MWh
Playters	Suffolk	8.6 MW	October 2015	1.3 ROCs/MWh
Lindridge	Leicestershire	4.9 MW	March 2016	1.3 ROCs/MWh
Abbey Fields	Kent	4.9 MW	March 2016	1.3 ROCs/MWh
Mission	South Yorkshire	5.0 MW	March 2016	1.3 ROCs/MWh

All of these plants are accredited under the Renewables Obligation (RO) scheme and receive an average of 1.35 Renewable Obligation Certificates (ROCs) per MWh. They bring Foresight Solar’s total installed capacity up to 869 MW across 54 solar assets.

"Whilst we do not expect our high volume of activity in the UK secondary market to continue at the same rate in 2019, as previously noted, we are pleased to complete another NAV-accretive acquisition that demonstrates our ability to secure attractive opportunities,” commented chairman Alex Ohlsson.

(GBP 1.0 = USD 1.278/EUR 1.123)

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