Foresight Solar Fund - Growth ambitions
Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by total net peak capacity of c 1.07GW (when operational). We believe that the global and UK climate change policies will remain renewable energy friendly, creating further solar and battery storage growth opportunities for FSFL. FSFL provides investors with a covered, sustainable and growing dividend (even in 2020 amid depressed power prices). It is focused on further strengthening its dividend cover (1.21x in FY21, targeting a minimum of 1.5x in FY22) over the next four years. FSFL has recently secured further exclusive positions in ready-to-build battery storage projects totalling c 60MW targeted for completion in the coming months. FSFL expects these to be accretive to the portfolio NAV and target yields.Foresight Solar Fund is a closed-ended investment company investing in a portfolio of ground-based solar photovoltaic assets in the U.K. and in Australia. Co. makes its investments through intermediate holding companies and underlying Project Vehicles/Special Purpose Vehicles. Co.'s Investment Manager is Foresight Group CI Limited.
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