Foresight Solar Fund acquires remaining minority stakes in three solar farms in the UK
Foresight Solar Fund Ltd has announced it has acquired the remaining minority stakes in three solar farms in the UK.
In July 2015, Foresight acquired a majority stake in the solar farms via a joint venture (JV) with Big60Million Limited, a community solar group backed by Belectric.
The company has expanded its portfolio to 348 MW following the acquisition of the 34 MW of solar assets.
The projects are a 15 MW solar farm in Atherstone and a 10 MW solar farm in Southam – both located in the English Midlands county of Warwickshire and the 9 MW Paddock Wood array, located in Kent, near London. Each of these large-scale solar farms were connected to the grid in March 2015.
Foresight Solar Fund has acquired the projects with the proceeds from its recent equity fundraising. A Placing of Treasury Shares in September 2016 raised £28.9 million (US$36.3 million) and subsequent Tap Issue in October 2016 £31.9 million (US$40.1 million).
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