Foresight ‘yield co’ adds US$168 million debt acquisition facility

Facebook
Twitter
LinkedIn
Reddit
Email

One of Britain’s solar ‘yield cos,’ Foresight Solar Fund, has announced a debt acquisition facility, worth £100 million (US$168 million) , which will enable the fund to purchase further solar farm assets.

The company reached 100MW of managed UK solar assets in April, having floated an IPO worth £150 million (US$252 million) in October of last year. The 100MW milestone also meant the company had invested 88% of the IPO funds raised. The imminent connection of the 10.7MW Hunter’s Race solar power plant will bring that figure up to 100%.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Hunter’s Race will qualify for the 1.4 ROC rate under the UK government’s subsidy scheme. Foresight claims the latest £100 million announcement will allow the company to double its operational capacity over the next 12 months. Among the first uses of the debt acquisition facility will be to acquire a 37MW farm in Oxfordshire, which will be the largest solar PV plant in Britain’s to date, when completed.

Foresight announced that it is on track to deliver a target dividend of £0.06 (US$0.10) per ordinary share rising with retail price index (RPI) after the first year of the fund’s operation.

News of the debt acquisition has been expected for a while. Jamie Richards, a partner at Foresight, told PV Tech’s sister publication Solar Business Focus in March that the company intended to increase the scale of the fund “significantly”. Richards said the success of the IPO was testament to the growing maturity of solar power generation assets as an investment class.

“We are seeing increasing institutional appetite for Solar investment as institutions are made aware of the low volatility and index linked yields that can be achieved,” Richards said.

“The fact that we were able to refinance our portfolio of UK solar assets 10 months ago with the listing of the £60 million (US$100 million) index linked Solar Bond on the London Stock Exchange, fully subscribed by two leading financial institutions was indicative that the sector had come of age as offering the risk return profile that appeals to institutions.”

Although it seems unlikely assets purchased by Foresight will be retrospectively affected, it remains to be seen what kind of impact the end of support for large scale solar development in the UK will have on the aforementioned growing popularity of solar, and renewable energy generation assets, as an investment class.

Read Next

Premium
October 10, 2025
Gaëtan Masson of IEA PVPS warns of overcapacity, collapsing prices and slipping module quality in the new Trends in PV Applications report.
October 10, 2025
The European solar module market has reached a “state of equilibrium” in recent weeks, with stable prices and regular demand.
October 10, 2025
US solar recycling firm OnePlanet has achieved the R2v3 certification from electronics sustainability non-profit SERI, which represents the “highest standards of traceability”.
October 10, 2025
NTPC Renewable Energy Limited has signed an MoU with the Government of Gujarat to develop 15GW renewable energy projects in Gujarat.
October 10, 2025
Australia's renewable energy sector recorded its slowest month of the year for additions in September, with 5.8GW of new projects added to development pipelines, according to data from Rystad Energy.
October 9, 2025
The Australian government has announced the results of the fourth Capacity Investment Scheme (CIS) tender, with 6.6GW of renewables awarded long-term contracts.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK