Foresight Slr Fnd Ld Foresight Solar Fund Limited : Acquisition

 
TIDMFSFL 
 
 
   27 January 2017 
 
   Acquisition 
 
 
 
 
 
   The Company is pleased to announce that it has completed its largest 
acquisition to date with the purchase of a 100% interest in a 50MW 
alternating current ("AC") export capacity operational UK solar asset, 
representing 72MW of installed peak capacity. Shotwick solar farm, 
located in Flintshire, is the largest operational solar asset in the UK. 
It was connected to the Grid in March 2016 and has received Renewables 
Obligation Certificate ("ROC") accreditation of 1.3ROCs/MWh. 
 
 
 
   The acquisition has increased the Company's portfolio to 17 assets with 
an installed peak capacity of 420MW. In addition to Shotwick, the 
Company has identified a further attractive pipeline of assets which 
will support the potential for growth of the Company over the coming 
months. 
 
 
 
   The Shotwick acquisition has been funded using the remainder of the 
equity proceeds recently raised, and the Company's existing acquisition 
facility. The Company has acquired the economic benefit of all project 
cash flows since 30 November 2016.  The Company intends to repay the 
acquisition facility through additional equity raises as and when 
appropriate in 2017. 
 
 
 
   Commenting on the acquisition, Alex Ohlsson, Chairman of the Company, 
said: "The Shotwick acquisition is in line with the Company's strategy 
of focusing predominantly on large-scale solar assets while minimising 
cash drag risk for investors. The Company has identified further 
attractive pipeline assets and expects to deliver additional growth 
opportunities." 
 
 
 
   For further information, please contact: 
 
   Foresight Group 
 
   Louise Chesworth,          [e-mail],          +44 
(0)20 3667 8191 
 
 
 
   Stifel Nicolaus Europe Limited, [phone] 
 
   Mark Bloomfield 
 
   Neil Winward 
 
   Tunga Chigovanyika 
 
 
 
   J.P. Morgan Cazenove, [phone] 
 
   William Simmonds 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Foresight Solar Fund Limited via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

February 03, 2017 02:00 ET (07:00 GMT)

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