24th Jul 2015 08:52
LONDON (Alliance News) - Foresight Solar Fund Ltd on Friday said it has struck a deal to acquire a portfolio of three assets via a joint venture with Big60Million Ltd.
Foresight said the joint venture has acquired the Atherstone and Southam assets in Warwickshire and the Paddock Wood asset in Kent, with the three holding a total power generating capacity of 34 megawatts.
Under the deal, Foresight will own a 78% stake in Atherstone, 59% in Paddock Wood and 70% in Southam.
Big60Million is an initiative created to back the acquisition of community-beneficial solar assets in the UK.
The fund has also extended its existing acquisition facility with Royal Bank of Scotland and Santander to GBP150 million from GBP120 million. It said it has extended the facility in order to back its acquisition opportunities pipeline.
Shares in the fund were down 0.4% to 102.065 pence on Friday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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