Foresight Solar Fund Limited Q1 2021 Net Asset Value (7580Y)
May 17 2021 - 2:00AM
UK Regulatory
TIDMFSFL
RNS Number : 7580Y
Foresight Solar Fund Limited
17 May 2021
Foresight Solar Fund Limited ("the Company")
Q1 2021 Net Asset Value ("NAV")
Foresight Solar Fund Limited, a fund investing in a diversified
portfolio of ground-based solar PV and Battery Storage assets in
the UK and internationally, announces that as at 31 March 2021 its
unaudited Net Asset Value was GBP558.7 million (31 December 2020:
GBP582.20 million), resulting in a NAV per Ordinary Share of 91.9
pence (31 December 2020: 95.8 pence per share).
The decrease in NAV over the first quarter is largely
attributable to a downward revision in the medium and long-term
power price forecasts during the period (-2.3 pence per share) and
the recent announcement of the increase in UK Corporation Tax to
25% from April 2023 (-1.3 pence per share), which is assumed to
remain unchanged thereafter for the remaining useful economic life
of the UK portfolio assets.
The Gross Asset Value ("GAV"), including Company and
subsidiaries, as at 31 March 2021, was GBP1,023.5 million (31
December 2020: GBP1,054.6 million).
Dividend
The Company re-affirms its FY 2021 dividend target of 6.98 pence
per share.
For further information, please contact:
Foresight Group
Jonathon McManus +44 (0)20 3667 8147
(InstitutionalIR@ForesightGroup.eu)
Jefferie s International Limited +44(0)20 7029 8000
Neil Winward
Gaudi Le Roux
Citigate Dewe Rogerson +44 (0)20 7638 9571
Toby Moore
Elizabeth Kittle
Lucy Gibbs
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