Foresight Solar Fund has completed the acquisition of interests in three solar farms in the Australian state of Queensland totalling 117MW from Canadian Solar.
The fund has bought 49% shares in the 17MW Longreach and 30MW Oakey 1 plants and all of the 70MW Oakey 2 facility.
Longreach and Oakey 1 are expected to come online in March and September, respectively, while Oakey 2 is expected to connect to the grid in October.
The Clean Energy Finance Corp (CEFC) and The Bank of Tokyo-Mitsubishi UFJ have provided debt finance totalling A$65m (€42m) for Longreach and Oakey 1, while CEFC has also provided A$55m in debt for Oakey 2.
Longreach and Oakey 1 have 20-year off take agreements with the Queensland government.
Foresight partner Ricardo Piñeiro said: “We are delighted to have completed the acquisition of these projects.
“These Australian assets ensure greater diversity across the portfolio and will be making a strong contribution for our investors once operational.”
The fund now has a total of 23 assets with a combined capacity of 621MW.
Image: Pixabay
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