Foresight Solar acquires portfolio of three greenfield solar assets in Spain for €72m

Mon, 4th Jan 2021

Solar assets investment company Foresight Solar said it had acquired a portfolio of three greenfield solar assets in Spain for €72 million. The 98.5-megawatt portfolio, comprised of three subsidy-free greenfield assets located in the Andalusia region, Spain, included development rights acquisition costs of €15 million. It is anticipated that a long-term power purchase agreement would shortly be signed with a major European energy supplier, securing an attractive level of contracted revenues, the company said. Construction of the portfolio was expected to start in summer 2021, with operations targeted to start in June 2022. 'Following the acquisition, the company's portfolio comprises 58 assets, based in the UK, Australia and Spain, with an installed capacity of 994 MW once fully operational,' the company said. Story provided by StockMarketWire.com

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