Foresight Solar has signed a new three-year deal for access to up to £180m in debt funding to back PV and battery acquisitions.
The so-called facilities agreement provides for a committed multicurrency Revolving Credit Facility of £150m and an uncommitted accordion facility of up to £30m.
Advertisement
The former replaces the company’s two existing RCFs and provides an increased source of flexible funding, with both Sterling and Euro drawdowns, said Foresight.
The agreement includes an uncommitted option to extend the RCF for a further year and will be used to fund the acquisition and construction of ground-based solar PV and battery storage projects to add to the company’s current portfolio, as well as to cover any working capital requirements.