Foresight Slr Fnd Ld Foresight Solar Fund Limited : Completion Of Acquisition

 
TIDMFSFL 
 
 
   4 October 2017 
 
 
 
   Completion of Acquisition 
 
 
 
   Further to the announcement on 28 September 2017, Foresight Solar Fund 
Limited ("The Company") is pleased to announce that it has now completed 
the acquisition of an equity interest to acquire 48.5% of the share 
capital of Bannerton Solar Farm ("the Project") in Victoria, Australia 
(the "Transaction"). 
 
 
 
   As previously disclosed, the Project development rights have been 
acquired for an initial consideration of A$5.5 million (GBP3.2 million). 
The Company's equity investment amount will total c. A$40 million 
including the expected construction costs.  The Project will benefit 
from a 17 year fixed-price PPA with Alinta Energy, an Australian 
utility. This contract will represent 60% of the expected electricity 
generated during the term of the contract. 
 
 
 
   The acquisition of the Project and subsequent equity investment will be 
funded through the existing revolving credit facility provided by 
Santander Global Corporate Banking. Prior to the date of the investment, 
the Company had c. GBP62 million of the existing revolving credit 
facility available. 
 
 
 
   In addition, the Project will benefit from a debt facility of c. A$98 
million provided by the Clean Energy Finance Corporation. The facility 
will be available to fund construction milestones and will remain in 
place during the early operational phase. 
 
 
 
   For further information, please contact: 
 
   Foresight Group 
 
   Romy Abrahams               [e-mail]             +44 
(0)20 3763 6956 
 
 
 
   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

October 04, 2017 02:00 ET (06:00 GMT)

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