Foresight Solar Fund Limited New PPA for 98.5MW Spanish solar portfolio (3410V)
December 13 2021 - 1:59AM
UK Regulatory
TIDMFSFL
RNS Number : 3410V
Foresight Solar Fund Limited
13 December 2021
13 December 2021
Foresight Solar Fund Limited (the "Company")
New Power Purchase Agreement for 98.5MW Spanish solar
portfolio
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, is pleased to announce that it has
entered into a 10-year Power Purchase Agreement (PPA) over the
electricity to be generated at the 98.5MW solar portfolio located
in Andalusia, Spain.
The portfolio of three assets was acquired by the Company on 31
December 2020 and remains on target to start operations in June
2022.
The counterparty to the PPA, Statkraft, is Europe's largest
producer of renewable energy, developing, building and operating
solar, hydro, wind and gas assets. It also supplies district
heating. The PPA provides the portfolio with a 10-year fixed price
for circa 70% of its annual production, increasing the Company's
earnings visibility. The PPA ensures an attractive and unique
opportunity to secure a high proportion of contracted revenues for
the portfolio.
The Company remains on target to deliver an annual dividend of
6.98 pence per share for the year ending 31 December 2021.
For further information, please contact:
Foresight Group
+44 (0)20 3911
Nish Sivarajan 2318
(InstitutionalIR@ForesightGroup.eu)
+44(0)20 7029
Jefferies International Limited 8000
Neil Winward
Gaudi Le Roux
+44(0)20 7638
Citigate Dewe Rogerson 9571
Toby Moore
Lucy Eyles
Lucy Gibbs
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