Foresight Solar Fund to acquire a 30 MW solar asset located in Nottinghamshire
Foresight Solar Fund Limited (FSFL) has signed a binding contract to acquire a 30 MW solar asset located in Nottinghamshire, UK.
The asset is expected to qualify for the 1.3 Renewable Obligation Certificate (ROC) banding under the Renewable Obligation (RO) 12 month grace period for projects greater than 5MW. Once operational, this will increase the portfolio capacity to 263 MW.
The company continues to negotiate further acquisitions having secured exclusivity over a pipeline of assets, including a 51 MW 1.4 ROC operational portfolio.
FSFL is a Jersey-registered closed-end investment company. The company, which raised proceeds of £150 million (US$236 million) through an initial public offering (IPO), invests in ground based UK solar power assets.
Foresight Group was established in 1984 and today is a independent infrastructure and private equity investment manager with over £1.5 billion of assets under management. Foresight funds currently manage over £1 billion in over 50 separate operating Photovoltaic plants in the UK, the USA and Southern Europe.
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