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

July 4, 2025
Australian retailer AGL Energy has confirmed its acquisition of South Australia’s Virtual Power Plant (SAVPP) from Tesla.
July 2, 2025
A new state-owned green bank, the Energy Security Corporation (ESC), has launched in New South Wales, Australia, with an initial funding allocation of AU$1 billion (US$640 million).
July 2, 2025
Indigenous-led renewable energy company Yindjibarndi Energy Corporation (YEC) has submitted plans for a hybrid wind and solar PV renewable energy project to the Australian government’s Environment Protection and Biodiversity Conservation (EPBC) Act.
July 2, 2025
Robotics company Luminous has received AU$4.9 million (US$3.2 million) via Australia’s Solar ScaleUp Challenge to support deploying its ‘LUMI’ technology at utility-scale solar PV power plants.
July 1, 2025
A five-year research initiative is underway in Australia to test the viability of floating solar systems on irrigation dams.
June 30, 2025
Australian module manufacturer Tindo Solar has secured a 30MW solar module supply agreement to power Australia's first "net zero pipeline”.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK