Foresight continues Australian charge with small-scale renewables fund launch

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
Image: ARENA.

Global solar investor Foresight Group has continued its charge into the Australian PV market, launching a sustainability framework to finance small-scale renewable infrastructure projects in the country.

Today, Foresight announced that its sustainability framework had been certified by the Climate Bonds Initiative (CBI) and verified by the Carbon Trust, enabling the launch of the Foresight Renewable Energy Income Fund (FREIF).

Targeting a size of around AU$150 million (around US$103 million), the vehicle will provide private debt to small-scale projects throughout Australia. It will reportedly become the first to pool capital into a series of CBI-certified loans, designed to provide wholesale investors in the country “unique access” to renewable assets.

FREIF’s remit will be focused exclusively on renewable generation and associated infrastructure projects, and Foresight is to report annually on the environmental impact of the loans it issues.

Nigel Aitchinson, head of infrastructure at Foresight, said the new fund will “set the bar” for investing into renewables in Australia.

“Australian investors – whether they are retail, wholesale or institutional – are becoming more climate-aware and increasingly seeking domestic green infrastructure opportunities, that have an ongoing and verifiable environmental impact,” said the CBI's CEO Sean Kidney.

“This latest offering from Foresight to wholesale investors reflects that growing demand,” Kidney added. “It’s another innovative step in the development of the Australian market.”

Foresight Group is one of the largest renewables investment funds in Europe and owns one of the largest solar asset bases in the UK. It has however increasingly turned its attention to Australia’s renewables scene as developments in its home market have slowed.

It currently manages a AU$400 million (US$274 million) portfolio of solar assets, featuring several large-scale projects in Queensland and beyond.

Read Next

October 15, 2021
Doral Renewables has broken ground on the 1.65GWdc Mammoth Solar project in Indiana, set to be the US’ largest solar farm once complete.
October 15, 2021
European renewables investment management firm Greencoat Capital has confirmed its entry to the US renewables market and is plotting to invest up to US$5 billion over the next five years.
October 13, 2021
Calling for a three-fold increase in renewables investment in the next decade, the International Energy Agency’s (IEA) latest edition of its World Energy Outlook, published today, has been largely welcomed by analysts and industry observers, who are urging world leaders to respond accordingly at the COP26 Climate Change Conference.
October 13, 2021
EDF Renewables has targeted Vietnam’s solar market by investing in rooftop PV installer SkyX Solar, a subsidiary of investment management firm VinaCapital.
October 13, 2021
While solar PV and wind deployment will far outstrip additions from other electricity sources over the next decade, clean energy progress is still lagging behind what is needed to put global emissions into sustained decline towards net zero, the International Energy Agency (IEA) has warned.
October 13, 2021
Reliance New Energy Solar (RNES) has invested US$29 million in German wafer technology company NexWafe’s Series C financing round as it looks to establish wafer production facilities in India.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 19, 2021
BRISTOL, UK
Upcoming Webinars
November 10, 2021
8am (PST) | 5pm (CET)
Solar Media Events
December 1, 2021