Foresight has reached a decision to invest in the construction, financing and commissioning of a €300m, 267MW solar portfolio in Greece.
As part of this investment, Foresight used its experience to originate, source co-investment and arrange financing.
This investment also represents an expansion of the investor’s geographic footprint, with a new local office in Athens.
Core earnings before interest, tax, depreciation and amortisation (EBITDA) pre-share based payments (SBP) increased 18% in Foresight’s financial year end 31 March 2024 to £59.3m.
Revenue grew by 19% to £22.1m on the prior year to £141.3m.
Foresight Group Holdings executive chairman Bernard Fairman said: “We have delivered another strong year of profitable growth as the Group benefitted from increasing demand for our higher margin retail vehicles and successful institutional fundraising activity from our private equity business.
“We have carried this strong earnings momentum into the current financial year, having already delivered around £500m in AUM growth in first quarter FY25.
“This increase was driven by the combination of further success in retail fundraising and the recent €300m first close of our flagship energy transition fund, FEIP II, following improving sentiment in the institutional infrastructure fundraising market.
“Having achieved significant profitable growth since listing on the London Stock Exchange in 2021, we are today updating our growth guidance to double core EBITDA pre-SBP over the next five years.”