Foresight Solar Fund refinances acquisition facility
Foresight Solar Fund Limited has confirmed the refinancing of its acquisition facility which has also been extended from £100 million to £120 million.
The facility has been refinanced through RBS and Santander at preferential terms against the original facility as below.
| Facility | Tenor | Libor + |
| £100m | 3 yr | 225bps |
| £20m | 1 yr | 185bps |
This facility will be drawn to fund future operational UK solar power plant acquisitions. It is expected that the facility will be repaid through utilisation of further equity issuance under the £200m Placing Programme which remains open until September 2015 and which has already raised £96.2m, and/or refinancing with a long-term debt facility.
In addition, the company announced a 2.2MWp extension to its Wymeswold plant in Leicestershire at a total cost of £1.8 million. Wymeswold was the first operational plant acquired by the Company in November 2013 at 32.2MWp with a ROC accreditation of 2.0ROCs, having been connected to the grid in March 2013.
This 2.2MWp extension represents a 7% increase in capacity at the plant, bringing it up to 34.4MWp, and has been connected to the grid before the 31 March 2015 deadline for 1.4ROC accreditation. This 2.2MWp extension at 1.4ROCs does not affect the 2.0ROC accreditation obtained for the initial 32.2MWp of installed capacity.
Country news
-
-
April 17, 2015
TerraForm Power acquires 168 MW of solar power plants from SunEdison
TerraForm Power has acquired 168 MW of photovoltaic solar power plants from SunEdison during the first quarter of 2015. Read more -
April 21, 2015
SunEdison and TerraForm Power close financing for 95MW of solar projects
SunEdison, Inc. and TerraForm Power, Inc. have closed financing of a 97 MW portfolio of utility-scale photovoltaic solar projects in the UK that were connected during the first quarter of 2015. Read more -
April 22, 2015
GE Energy Financial Services acquires Langhope Rig Wind Farm in Scotland from SSE
GE Energy Financial Services, a unit of GE, announced in March that it has signed an agreement with SSE plc, one of the largest generators and suppliers of energy in the UK, to acquire the 16-megawatt Langhope Rig wind farm, which is nearing construction completion near Hawick, in the Scottish Borders. Read more -
April 24, 2015
BP agrees sale of Central Area Transmission System (CATS) business to Antin Infrastructure Partners
BP has agreed to sell its equity in the Central Area Transmission System (CATS) business in the UK North Sea to Antin Infrastructure Partners for £324 million (US$453 million). Read more -
April 24, 2015
Zouk Capital and UrbanWind to invest in UK Feed-In Tariff (FiT) wind sector
Zouk Capital and UrbanWind have plans to invest in the UK Feed-In Tariff (FiT) wind sector, with a £30 million (US$45 million) funding allocation secured from Zouk Capital. Read more
