November 29 (Renewables Now) - 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)