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FSFL completes acquisitions

24 July 2015 09:53

Foresight Solar Fund Limited has completed the acquisition of a portfolio of three operational assets totalling 34MW through a joint venture with Big60Million Limited.

The three assets - the 15MW Atherstone and 10MW Southam assets located in Warwickshire, and the 9MW Paddock Wood asset is located in Kent - were connected to the Grid in March and have received Renewable Obligation Certificate 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 the company's June placing.

In addition, the company has confirmed the extension of its existing acquisition facility from £120m to £150m. The facility will continue to be provided equally by RBS and Santander.

At 9:53am: (LON:FSFL) Foresight Solar Fund Limited Ord Npv share price was -0.75p at 101.75p

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