Foresight Solar Fund to acquire 48.5% stake in 110MW solar farm in Victoria, Australia

Facebook
Twitter
LinkedIn
Reddit
Email
This deal stands as FSFL’s first overseas acquisition — with the company’s portfolio expanding by 11% in capacity to 20 assets with a combined generation capacity of 528MW. Image: Slimdandy / Flickr

Foresight Group, an independent infrastructure and private equity manager, has acquired the 110MW Bannerton Solar Project in Victoria, Australia on behalf of Foresight Solar Fund Limited (FSFL), KDB Infrastructure Investments Asset Management and Hanwha Energy.

As part of the acquisition, FSFL will take a 48.5% stake in the solar project.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

This deal stands as FSFL’s first overseas acquisition — with the company’s portfolio expanding by 11% in capacity to 20 assets with a combined generation capacity of 528MW.

The 110MW project is expected to be connected to the grid in July 2018 and will receive regulatory support in the form of Large-Scale Generation Certificates (LGCs) through the Renewable Energy Target regulatory framework.

The site will benefit from a 10-year contract with the Victorian Government for the sale of a proportion of the LGCs produced — along with a 17-year, fixed-price PPA with Alinta Energy.

Ricardo Piñeiro, partner at Foresight Group, said: “We are pleased to have completed FSFL’s first overseas acquisition in Australia alongside the prestigious financial institutions and investors KDB KIAMCO and Hanwha, growing the fund’s portfolio to 20 assets with a capacity of 528MW.

“The transaction launches FSFL’s international growth strategy into the fast developing Australian solar market which offers investors attractive risk adjusted returns. We’re particularly proud that Bannerton was successful in the tender to provide clean power to the Melbourne Tram network, supporting Victoria State’s target of 40% renewable energy by 2025.”

Read Next

May 28, 2025
The SEC has signed a deal to supply the Victoria government with 100% renewable energy from its portfolio in Australia.
May 28, 2025
QIC, one of Australia’s largest infrastructure fund managers, has completed an AU$2 billion refinancing and equity raise for Pacific Energy.
May 27, 2025
Fortescue Metals Group, an Australian mining giant, has submitted plans for its 644MW Turner River Solar Hub in Western Australia to the federal government’s Environment Protection and Biodiversity Conservation (EPBC) Act.
May 26, 2025
Potentia Energy has completed the development of its 93MW Girgarre solar PV power plant in Victoria, Australia.
May 26, 2025
Australia's NSW government has proposed developing the state’s first urban REZ in Illawarra, which could be delivered as early as 2030.
May 22, 2025
Prefabricated solar structure provider 5B has become the first recipient of the Australian government’s AU$1 billion Solar Sunshot Program, securing up to AU$46 million for its “Maverick” automated solar deployment system.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 8, 2025
Asia