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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 Shares Traded Last Trade
  -0.40 -0.33% 119.20 350,215 16:35:27
Bid Price Offer Price High Price Low Price Open Price
119.20 119.80 120.00 119.00 119.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 38.07 117.89 19.37 6.2 727
Last Trade Time Trade Type Trade Size Trade Price Currency
17:56:22 O 918 119.20 GBX

Foresight Solar (FSFL) Latest News (1)

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Date Time Title Posts
03/1/202314:06Investment Trusts as an Annuity89
22/12/202216:33Foresight Solar Fund makes its London debut268
30/7/202115:21Solar Solar-

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Foresight Solar (FSFL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2023-02-03 17:56:27119.209181,094.26O
2023-02-03 17:40:07119.294,2925,120.01O
2023-02-03 17:32:56118.97331393.79O
2023-02-03 17:32:56119.201,6221,933.42O
2023-02-03 16:35:27119.2050,21759,858.66UT
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Foresight Solar (FSFL) Top Chat Posts

Top Posts
Posted at 04/2/2023 08:20 by Foresight Solar Daily Update
Foresight Solar Fund Limited is listed in the Equity Investment Instruments sector of the London Stock Exchange with ticker FSFL. The last closing price for Foresight Solar was 119.60p.
Foresight Solar Fund Limited has a 4 week average price of 115p and a 12 week average price of 108.60p.
The 1 year high share price is 125.40p while the 1 year low share price is currently 98.80p.
There are currently 609,773,916 shares in issue and the average daily traded volume is 851,855 shares. The market capitalisation of Foresight Solar Fund Limited is £726,850,507.87.
Posted at 22/12/2022 00:55 by bluemango
TMF tip FSFL. Not that it tells you anything you didn't already know:

hTTps://www.fool.co.uk/2022/12/19/yields-of-up-to-8-7-3-uk-dividend-shares-id-buy-for-passive-income/

Posted at 24/11/2022 09:52 by jonwig
Levy to have negligible effect:

https://www.investegate.co.uk/foresight-solar-fund/fsfl/autumn-statement---electricity-generator-levy/202211240700044244H/

Posted at 18/11/2022 17:55 by carterit
The exclusion of battery storage is clearly good for funds in this sub-sector: Gresham House (GRID), Gore Street (GSF) and Harmony Energy Income (HEIT).

Winterflood also pointed out that if biogas was confirmed as exempt, it would benefit JLEN Environmental Assets (JLEN), a diversified fund that generates some of its revenue from the sale of heat and biogas and enjoys some subsidy in the form of the feed-in-tariff scheme.

With its portfolio focused on Ireland and Europe, Greencoat Renewables (GRP) is also in the clear.

Chande said other funds with less than 30% UK exposure and at low risk from the levy were Thomas Lloyd (TLEI), Ecofin US Renewables (RNEW), Aquila European Renewables (AERI) and SDCL Energy Efficiency Income (SEIT).

VH Global Sustainable Energy Opportunities (GSEO) should also be excluded as its only UK asset is a gas-powered plant with carbon-capture facilities, said Chande.

‘While we do await finer details of the levy, the initial technical note indicated that behind-the-meter solar rooftop projects supplied by Atrato Onsite Energy (ROOF) will be exempt whilst Downing Renewables (DORE) is exempt due to UK capacity being under a 100GWh/pa de minimis allowance,’ the analyst said.

Funds such as Greencoat UK Wind (UKW) and Bluefield Solar Income (BSIF) with the highest exposure to subsidised CfD and ROC revenues should see a smaller reduction in NAVs, said Winterflood’s Ratnasingam.

UK Wind rose 3% yesterday, one of the biggest risers in the sector, and rallied another 3.7% today. Foresight Solar (FSFL) and NextEnergy Solar (NESF) gained over 2% yesterday.

The latter’s rise may have surprised Ratnasingam as he believed FSFL could be the most vulnerable to a knock to NAV as it had recently set its power price assumption at the higher end of the sector range of £80-£175/MWh for 2023 and £65-£150/MWh in 2024.

By contrast, he said NESF was ‘relatively attractive’ because of its investments in battery storage through a 500MW joint venture with Eelpower. Investor’s Newell estimated it was in line for a reduction in NAV of just 0.3%.

However, further clarification is needed as Chande included NESF, BSIF and UKW in a list of five that also included Renewables Infrastructure Group (TRIG) and JLEN he believed could see reductions of around 2.5% in NAV.

‘Arguably this is already reflected in discounts,’ he said. Until the smoke clears, however, those gaps between share prices and NAVs look set to remain.

Posted at 10/10/2022 10:11 by jonwig
They are threatening to invest in the EU, where the price cap is not so severe. FSFL is already in Spain, of course.
Posted at 10/10/2022 09:49 by cc2014
Based on what the government has done to share prices today on the renewables, there is no now chance of them raising additional capital through share issues in order to invest in new renewables which we desperately need.

Another complete screw up for them.

Posted at 29/9/2022 07:31 by madmix
EC2,

Well done on buying at 104p. There were some real bargains around yesterday morning, but sadly I was away from the screen when the BoE news came in, and most of the afternoon, so didn't take advantage.

Looking at current prices vs last reported NAV on the solar funds, I think things have bounced back to a more sensible level (without trying to run the numbers on their sensitivity to gilt yields).

FSFL 110p vs 123.8p NAV (11.1% Discount)
NESF 107p vs 121.7p NAV (12.1% Discount)
BSIF 126p vs 140p NAV (10% Discount)

Posted at 28/9/2022 15:20 by ec2
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.
Posted at 02/9/2022 10:44 by jonwig
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.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
bluemango - "general mayhem" sums it up!

Posted at 01/8/2022 17:41 by jonwig
Ted - not at all! The scrip reference price is worked out long before the payment. In the meantime, the NAV and share price have risen a lot. Anyone opting for the scrip divi would have a windfall.

So it would be unfair to you, who've opted for cash. The issue is fairness.

Posted at 03/5/2022 08:34 by davebowler
Liberum;
Foresight Solar Fund / Greencoat Renewables

Increased power price forecasts and inflation drive large NAV upgrades

FSFL: Mkt Cap £694m | Share price 113.8p | Prem/(disc) -2.8% | Div yield 6.1%

GRP: Mkt Cap £1,131m | Share price €1.18 | Prem/(disc) 8.7% | Div yield 5.1%

Event

Foresight Solar Fund and Greencoat Renewables have reported large NAV upgrades in Q1 2022 due to rising forward power prices and increased near-term inflation assumptions:

Foresight Solar Fund has reported a NAV per share of 117.1p at 31 March 2022, representing a 9.8% NAV total return in Q1. The company's NAV total return over the last 12 months is 35%. The main cause of the NAV increase was an upward revision in short- and medium-term power price forecasts, adding 5.4% to NAV. New fixed price PPAs for periods between 2022 and 2025 added a further 0.7% to NAV. At 31 December 2021, FSFL's long-term inflation assumption was 3% and the figure for the remainder of 2022 has increased to 5%, adding a further 1.9%. Revenue generation was 30% above budget in Q1. Gearing was 42.6% of GAV at 31 March 2022 and the company is reviewing a pipeline of battery storage and subsidy free solar projects.


Greencoat Renewables generated a 4.8% NAV total return in Q1 2022, predominantly due to higher inflation assumptions in 2022 (2.9% NAV impact). Power generation was 5% below budget in Q1 due to low wind speeds, but actual revenue generation still added 2.9% to NAV as a result of the elevated power environment. These gains were partially offset by reductions to long-term power prices and other assumptions (-1.9% NAV impact). We estimate a gearing level of c.40% of GAV following the recent €282m equity raise and acquisitions.

Liberum view

Today's upgrades follow Greencoat UK Wind's 13.2% NAV return for Q1 (announced last week). The majority of the peer group is also likely to report NAV upgrades in the coming weeks. We also note that forward power prices have continued to rise in the period since 31 March 2022, particularly for 2024 and 2025, suggesting further upside in Q2. Many of the funds have incorporated a discount to their near-term forward power price assumptions to reflect heightened volatility (TRIG and UKW previously indicated a discount of c.20% in addition to the effect of cannibalisation), creating the potential for actual generation to outperform budget

Foresight Solar share price data is direct from the London Stock Exchange
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