18th Aug 2026 09:44
(Alliance News) - Foresight Solar Fund Ltd on Tuesday said it plans to upgrade nine UK solar sites as part of a programme aimed at increasing electricity production and revenue and strengthening dividend cover.
The London-based investment company, which invests in solar and battery storage assets, said the sites represent about 20% of its UK portfolio. The enhancements are expected to increase electricity generation by up to 14 gigawatt hours per year.
Foresight Solar has not named the nine sites where the work will take place. It expects the programme to be completed by summer 2027.
Once fully implemented, the upgrades are expected to generate up to GBP2.5 million of annual revenue and contribute about 0.05 times to dividend cover. Foresight Solar expects its dividend to be 1.1 times covered in 2026.
The company said the additional electricity would be equivalent to powering 5,321 UK homes for a year and would avoid more than 4,850 tonnes of carbon dioxide equivalent emissions.
Two enhancement projects have already been completed, with older inverters replaced at Abergelli and more efficient panels installed at Pen Y Cae. The latter recorded its highest-ever monthly generation in July, producing 1,195 MWh.
Foresight Solar Lead Investment Manager Will Morgan said: "Enhancements are an efficient way to improve performance, increase revenues and drive long-term value for shareholders. By drawing on maintenance reserves to finance the works, when possible, we're able to realise upside with minimal extra cash requirements."
Morgan added: "These types of initiatives reflect our commitment to operational excellence and a track record we're proud of, with our UK portfolio outperforming budgets in nine of the last 12 years."
Shares in Foresight Solar were up 2.0% at 70.99 pence on Tuesday morning in London.
By Niall Holden, Alliance News reporter
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