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

September 12, 2025
German trade association BSW-Solar has called the German government for a simplified, standardised and more digitalised grid access for solar PV and energy storage operators.
September 12, 2025
ACME Venus Urja has secured INR3.8 billion (US$43 million) to develop and construct a solar-plus-storage project in Barmer, Rajasthan.
Premium
September 12, 2025
Vote Solar's Sean Garren tells PV Tech Premium that Georgia Power's latest IRP is 'skewed so heavily towards fossil fuels'.
September 11, 2025
Founder Group has won a RM10 million (US$2.3 million) engineering, procurement, construction and commissioning contract for a 30MW solar plant in Malaysia.
September 11, 2025
German renewable energy developer ib vogt has signed a 70MW solar PV virtual power purchase agreement (vPPA) in Romania.
September 11, 2025
Madison Energy Infrastructure has raised US$800 million to accelerate the deployment of clean energy assets across the US. 

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines