UK-based investment group Foresight has acquired the rights to build a 7.2MW solar plant at Alacer do Sal in Portugal.
Construction will begin later this year, with grid connection expected before 2018, the group said.
The acquisition is part of Foresight’s investment plan to develop a large-scale unsubsidised solar portfolio across Spain, Portugal and Italy.
“Solar assets can operate without separate subsidies and deliver superior risk adjusted returns for our investors,” said the group’s senior investment manager Carlos Rey.
“We are looking to further consolidate our leadership as a worldwide solar operator,” he said.
Foresight funds manage 80 photovoltaic plants totalling 900MW across the UK, southern Europe, USA and Australia.
Image: Pixabay
