Foresight Solar Fund completes acquisition of three assets
Foresight Solar Fund Limited (FSFL) has completed the acquisition of a portfolio of three solar operational assets in UK totaling 34 MW through a Joint Venture (JV) with Big60Million Limited.
The 15 MW Atherstone and 10 MW Southam assets are located in Warwickshire, and the 9 MW Paddock Wood asset is located in Kent.
All three assets were connected to the Grid in March 2015 and have received Renewable Obligation Certificate (ROC) accreditation at the rate of 1.4ROCs/MWh.
Through the JV, the company will own majority positions in the three assets as follows:
- Atherstone: 78%
- Paddock Wood: 59%
- Southam: 70%
The acquisition of the portfolio has been funded using equity proceeds raised in FSFL's June 2015 placing.
In addition, FSFL has announced the extension of its existing acquisition facility from £120 million (US$187.4 million) to £150 million (US$234.3 million). The facility will continue to be provided equally by RBS and Santander.
Country news
-
-
July 30, 2015
Ashurst strengthens resources and infrastructure team with partner hire from Jakarta
Ashurst has announced the appointment of Andrew Digges as a Singapore-based partner in its resources and infrastructure team. Read more -
August 11, 2015
Abengoa and Toshiba to develop the world’s largest biomass power plant in the UK
Abengoa has been selected alongside Toshiba as preferred bidder for construction of the 299 MW Tees Renewable Energy plant project in the UK. Read more -
August 14, 2015
Greater Manchester Pension Fund joins UKGIB investing in renewable projects
A commitment of £10 million today sees Greater Manchester Pension Fund (GMPF) join the UK Green Investment Bank plc (GIB) and Strathclyde Pension Fund (SPF) as investors in UK community-scale renewable energy projects through Albion Community Power plc (ACP). Read more -
August 20, 2015
PwC promotes equity partner in the oil & gas team
PwC is continuing to invest in its corporate finance deals team in the UK with the promotion of a new equity partner in the oil & gas team. Read more -
August 24, 2015
3i Infrastructure and Macquarie Capital invest in UK OFTO project
3i Infrastructure plc and Macquarie Capital have invested in the West of Duddon Sands Offshore Transmission Owner (WODS OFTO) in UK. Read more
