Foresight Solar Fund has acquired a portfolio of five operational solar farms in the UK with a combined capacity of 53.3MW for £36.6m (€41.8m).
The projects include the 20.7MW Verwood plant in Dorset, commissioned in May 2015, and the 13.2MW Park Farm facility in Leicestershire, operational since July 2015.
The 9.8MW Coombeshead and 6.6MW Sawmills projects are both in Devon and came online in August and September 2015, respectively. The fifth solar farm is the 3MW Yardwall plant in Somerset, commissioned in September 2015.
Foresight will benefit from all cash flows from the projects dating back to 1 January 2018.
A 0.5MW wind farm was also part of the portfolio acquisition. The project will be held by Foresight until a buyer is found, it said.
The acquisitions were funded through the company’s existing revolving credit facilities provided by Santander Global Corporate Banking.
Foresight has also agreed a £10m extension of the facility.
Its total solar portfolio now consists of 27 PV totalling 674MW, including three Australian assets currently under construction.
Image: Foresight
UK high-five for Foresight
By EBS