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Credit: ARENA

Credit: ARENA

London-based asset management firm Foresight Group has acquired a 25MW solar farm in Queensland from Elecnor Australia, a subsidiary of Spain-based energy firm Elecnor.

The acquisition of the Barcaldine Remote Community Solar Farm was performed on behalf of KDB Infrastructure Investments Asset Management (KIAMCO) and Hanwha Energy. KIAMCO and Hanwha both provided equity financing for the project, which is the first Australian plant to come under Hanwha’s management.

Foresight’s Sydney-based team is also forecasting strong opportunities in energy-from-waste projects in the country.

Gary Sofarelli, director, Foresight Group said: "Foresight will continue to work with developers and investors over the coming years to firmly establish itself as an astute energy infrastructure investment manager of solar, energy-from-waste and wind assets in Australia.”

The Barcaldine farm started feeding electricity to the grid in December last year. It received AU$20 million in debt finance from the Clean Energy Finance Corporation (CEFC).

Tags: foresight, australia, queensland, elecnor, hanwha, kiamco, sfi con london

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The business of solar is changing, as the industry scales up, technology, IT and new players to the market will add complexity. This sparks a host of opportunities such as co-location of solar and storage and the rise of unsubsidised solar projects as well as challenges which will question the very business model of European solar asset owners. Solar Finance & Investment Europe is the meeting place for institutional investors, sovereign wealth funds, solar, wind and storage funds and large energy buyers to do business.

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