Foresight Solar Fund and two partners have acquired the 110MW Bannerton solar farm in the Australian state of Victoria.
Foresight will own 48.5% of the project, with KDB Infrastructure Investments Asset Management a further 48.5% and Hanwha Energy Corp 3%.
Bannerton is expected to be connected to the grid in July 2018.
It has a 17-year fixed price power purchase agreement with Alinta Energy for a proportion of the energy generated.
The project also has a 10-year deal with the Victorian government for the sale of a proportion of large-scale generation certificates under the Renewable Energy Target regulatory framework.
Foresight Group partner Ricardo Piñeiro said: “The transaction launches (Foresight Solar)’s international growth strategy into the fast developing Australian solar market which offers investors attractive risk adjusted returns.”
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