Foresight Solar Share Discussion Threads

[gateside] 15/5/2024 17:53

But the majority of shareholders will be large institutions, I'm sure they will vote accurately.

[fordtin] 15/5/2024 12:06

It's worth noting that FSFL have 15 recommended FOR boxes running down the left hand column, but a tick in the left box of the 16th row means you vote FOR a discontinuation;

"16 THAT, the Company cease to continue in its present form under Article 168 of the
Company’s Articles of Association. ✓"

If enough people just tick the "for all" icon without reading the votes properly, the default would be to wind the company up!

[wassapper] 08/5/2024 10:07

The sun is shining now!

[masurenguy] 08/5/2024 07:08

Q1 2024 Net Asset Value and Trading Update

Foresight Solar, a sustainability-focused fund investing in solar and battery storage assets in the UK and internationally, announces that its unaudited net asset value (NAV) was £665.0 million at 31 March 2024 (31 December 2023: £697.9 million). This results in a NAV per Ordinary Share of 114.7 pence (31 December 2023: 118.4 pence per share).

Trading update

The first quarter of the year was among the wettest on record in the UK. Lower-than-expected irradiation in the country culminated in production 13% below forecast to 31 March 2024, with Australia and Spain similarly impacted by poor weather. Notwithstanding this period of lower generation, the Company continues to be highly cash generative and remains confident of meeting its target dividend cover for the year.

Gearing

The Gross Asset Value (GAV) on 31 March 2024 was £1,094.5 million (31 December 2023: £1,140.5 million). The Company's total outstanding debt was £429.5 million, representing 39.2% of GAV (31 December 2023: £442.6 million and 38.8%), comfortably within the 50% limit. The RCF balance remains £75 million drawn (31 December 2023: £75 million).

[wassapper] 07/5/2024 09:46

SEIT sales of a solar farm for 4.5% above Sep 23 valuation supports the NAV case there and for FSFL:

SDCL Energy Efficiency Income Trust plc is pleased to announce that it has sold its UK onsite solar portfolio, UU Solar, to UK Power Networks Services Holdings Limited, the private networks business of UK Power Networks Group, for a consideration of £90.8 million. The agreed price represents a 4.5% premium to the Company's 30 September 2023 valuation.