Foresight Solar Fund owns full ownership of 47 MW solar portfolio in Queensland
Foresight Solar Fund Limited has acquired the remaining 51% interests from Canadian Solar in the 30 MW Oakey 1 and 17 MW Longreach photovoltaic solar farms in Queensland, Australia.
Both assets are fully operational and the increase to 100% ownership provides the company with full management control over future optimization initiatives. Foresight Solar Fund Limited had acquired a 49% stake in each farm in December 2017.
Longreach and Oakey 1 photovoltaic solar farms benefit from Power Purchase Agreements (PPAs) for the sale of electricity and Large-scale Generation Certificates (LGCs) with the Queensland Government. These are under a contract-for-difference structure for a period of 20 years from the date of commissioning, delivering a highly contracted revenue level of operational cash flows.
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