We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Foresight Solar Fund Limited | LSE:FSFL | London | Ordinary Share | JE00BD3QJR55 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-1.10 | -1.26% | 86.20 | 86.00 | 86.60 | 86.20 | 85.80 | 86.10 | 278,430 | 10:07:26 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Finance Services | 162.99M | 154.47M | 0.2610 | 3.30 | 509.49M |
TIDMFSFL
RNS Number : 6843I
Foresight Solar Fund Limited
28 November 2018
28 November 2018
Foresight Solar Fund Limited
Acquisition of 11 UK solar assets
Further to the announcement on 18 October 2018, Foresight Solar Fund Limited ("Foresight Solar" or "the Company") is pleased to announce it has completed the acquisition of a 100% interest in a portfolio of 11 operational solar assets in the UK with a total installed capacity of 80.9 MW (the "Acquisition Portfolio"). The Acquisition Portfolio has been acquired for a consideration of GBP33.1 million, including the economic benefit of all cashflows from 1 April 2018.
As previously disclosed, the acquisition will be funded by the proceeds of the equity issue of approximately GBP58 million, which completed in October 2018 through a placing of new ordinary shares of no par value in the Company. The remaining proceeds following completion of the Acquisition Portfolio will be used to reduce the Group's gearing by repaying some of the existing Bank Facilities
All assets within the Acquisition Portfolio are accredited under the RO scheme, receiving 1.4 to 1.3 ROCs/MWh (portfolio average of 1.35 ROCs/MWh). All the assets have been in operation for a minimum period of two years and have been managed by Foresight Group's in-house Asset Management team, which will continue to manage the assets.
The assets in the Acquisition Portfolio include:
-- Bull's Head (Milton Keynes, 5.3MW), commissioned in October 2014 and received ROC accreditation of 1.4ROCs/MWh; -- Bilsthorpe (Nottinghamshire, 5.7MW), commissioned in November 2014 and received ROC accreditation of 1.4ROCs/MWh; -- Roskrow (Cornwall, 8.9MW), commissioned in March 2015 and received ROC accreditation of 1.4ROCs/MWh; -- Nowhere (Lincolnshire, 8.1MW), commissioned in March 2015 and received ROC accreditation of 1.4ROCs/MWh; -- Ash Farm (Shropshire, 8.4MW), commissioned in March 2015 and received ROC accreditation of 1.4ROCs/MWh; -- Pen & Cae (Carmarthenshire, 6.8MW), commissioned in March 2015 and received ROC accreditation of 1.4ROCs/MWh; -- PS Manor Farm (Bedfordshire, 14.2MW), commissioned in October 2015 and received ROC accreditation of 1.3ROCs/MWh; -- Playters (Suffolk, 8.6MW), commissioned in October 2015 and received ROC accreditation of 1.3ROCs/MWh; -- Lindridge (Leicestershire, 4.9MW), commissioned in March 2016 and received ROC accreditation of 1.3ROCs/MWh; -- Abbey Fields (Kent, 4.9MW), commissioned in March 2016 and received ROC accreditation of 1.3ROCs/MWh; and -- Mission (South Yorkshire, 5.0MW), commissioned in March 2016 and received ROC accreditation of 1.3ROCs/MWh.
The completion of this transaction brings the Company's total installed capacity to 869MW across 54 solar assets, further increasing portfolio diversification and enhancing operational efficiencies.
The Acquisition Portfolio currently has short term debt facilities in place totalling GBP69.8 million, the majority of which are provided by NatWest. It is the Company's intention to further optimise its capital structure in 2019 by refinancing the newly acquired assets and other portfolio assets funded by Revolving Credit Facilities.
Commenting on the acquisition, Alex Ohlsson, Chairman of the Company, said:
"We are pleased to complete this acquisition, rounding off what has been a busy year both for Foresight Solar and for the UK renewables market as a whole. This acquisition further strengthens our position as the largest UK-listed dedicated solar energy investment company by installed capacity and enhances the diversification of our asset portfolio and ability to drive economies of scale.
Whilst we do not expect our high volume of activity in the UK secondary market to continue at the same rate in 2019, as previously noted, we are pleased to complete another NAV-accretive acquisition that demonstrates our ability to secure attractive opportunities."
LEI: 213800VO4O83JVSSOX33 For further information, please contact: Foresight Group Joanna Andrews +44 (0)20 3763 6951 (InstitutionalIR@ForesightGroup.eu) Stifel Nicolaus Europe Limited +44 (0)20 7710 7600 Mark Bloomfield Neil Winward Gaudi Le Roux Citigate Dewe Rogerson +44 (0)20 7638 9571 Nick Hayns Elizabeth Kittle Lucy Eyles
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
ACQFEAFWWFASEEF
(END) Dow Jones Newswires
November 28, 2018 02:00 ET (07:00 GMT)
1 Year Foresight Solar Chart |
1 Month Foresight Solar Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions