Foresight Solar Share Discussion Threads

[ec2] 28/9/2022 16:20

BofE seems to be holding 10Y gilts at 4%. This makes renewable infrastructure funds between 5 and 10 pct undervalued at this level. FSFL that I sold out of yesterday at 110p, I have bought back in today at 104p. 4pct gilt yield would equate to FSFL share price of 114p.

[yump] 27/9/2022 18:12

Well the Conservatives have nicked nearly all Labour policies, so Labour are having to scrabble around for something different.

[cynicalsteve] 27/9/2022 15:34

If you can keep your head when all about you are losing theirs...
Somethings happening you don't know about yet!
I wonder if the news of Labour creating a new publicly owned energy company leaked out? What am I saying? Of course it did!
Not necessarily bad news though, we will need to see the small print but the market hates uncertainty.

[drradcliffe] 26/9/2022 19:23

Absolutely right. If you don't have to sell don't worry about the price on the day.

[davr0s] 26/9/2022 19:22

Or calm down

[jonwig] 26/9/2022 18:40

Voci -

1) too early, I think
2) too late, I think
3) is my choice.

[voci] 26/9/2022 18:22

FSFL down over 5% today!

The whole renewables sector has been smashed today.

Buy the dip?
Sell out to avoid further losses?
Hang in there and keep on collecting the quarterly dividend?

[masurenguy] 22/9/2022 07:43

"Solar funds Bluefield Solar Income (LSE: BSIF, all UK), NextEnergy Solar Fund (LSE: NESF, 90% UK) and Foresight Solar Fund (LSE: FSFL, 70% UK) have also done well. Yields in the sector range from 4.5% at UKW to 5.9% at NESF; all should grow at least in line with inflation. For the yield-seeking, risk-averse investor, the sector remains a long-term buy."
Money Week 20 September 2022

[jonwig] 15/9/2022 08:50

As it stands, the EU proposal is a price cap: Companies would have to give EU states the “excess profits” generated beyond a level, which the commission seeks to set at €180/MWh. But member states would be free to put in place lower thresholds of their own.

Prices in UK and Australia are generally a lot lower than this, but Spain would be free to set any level it wanted below 180.

[masurenguy] 15/9/2022 07:51

We can only wait and see. They don't want to be too heavy on renewables as encouraging rapid further investment in this sector is part of the long term solution to eliminate dependence on Russian sources.

[jonwig] 15/9/2022 07:39

The EU Commission is planning a windfall tax on renewables, and I guess it will be a tough one. As the Spanish assets move into production, they will no doubt be caught.

[masurenguy] 15/9/2022 07:17

Great set of interims, well summed up by Chairman's comments

Alex Ohlsson, Chairman of Foresight Solar Fund Limited, said: "Financially and operationally, Foresight Solar performed strongly during the first half of 2022. NAV per Ordinary Share increased by 14.4%, while total revenues and consolidated EBITDA were 18% and 26% ahead of budget, respectively. We remain firmly on track to deliver our 2022 target dividend of 7.12 pence per share and, based on the strength of the operational performance and the certainty provided by further price fixes this year, are expecting dividend cover for 2022 of at least 1.5 times. Projected cover is expected to remain strong for the next three years; based on current forecasts and prevailing market conditions, the dividend for 2023 is expected to be fully covered by contracted revenues alone.

Our diversification strategy is progressing well. The Company's Spanish portfolio is now entering operations and, post-period close, we completed our second investment in battery storage systems. Shareholder approval to allocate up to 5% of the Company's GAV into development stage solar and battery storage assets represents another exciting channel of growth, and we are already well progressed in evaluating several development pipelines in both the UK and Europe.

Solar power has an integral part to play in a well-balanced future energy mix and the reduction of wholesale energy prices. An environment that supports the development of low-cost renewable generation, as well as grid balancing technology, will provide a clear path to energy security and the Company is seeing robust demand from investors to fund the construction of these low carbon technologies. Given the strength of industry fundamentals across all our core markets and our exciting pipeline of attractive opportunities across solar and battery storage in both the UK and Europe, Foresight Solar remains well positioned for further growth as we look to the rest of 2022 and beyond."

[spoole5] 15/9/2022 07:11

Cracking results, what excellent inflation hedges these rebewables are turning out to be. Wish I'd bought more!

[jonwig] 02/9/2022 11:44

farnes (#224) - most energy generation and supply have a strong seasonal bias. British Gas used to lose money in summer and recoup it in winter (I held the shares years back). So share prices just discount that.

The trouble with wind and solar is that you can't just sit on a shedload of juice, as you put it. Electricity storage is possible only for a few hours, though there are prototypes for much longer methods.

If Truss keeps her word (can't help being sceptical) a windfall tax is off the agenda for now. But all new systems work on a CFD payment scheme, where excesss profits are impossible.
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bluemango - "general mayhem" sums it up!

[bluemango] 02/9/2022 10:56

Bought for income portfolio.

Some familiar names posting here, eg jonwig from PHNX, CWA1, Masurenguy, so I'm in good company ...

Having bought into investment trusts while the panic was on in Spring 2020, I'm now taking profits from those and moving into energy stocks and various other good and hopefully sustainable high yielders. Ready to batten down the hatches in case of general mayhem ...

[cwa1] 30/8/2022 09:50

Edison executive interview:-

[farnesbarnes] 23/8/2022 10:45

How will it play out with solar generally?

Will there be a cooling of share price advances over the winter due to lower production, or a rise based on the energy crisis, and solar being able to charge a premium based on summer production and sitting on a shedload of juice?