Investor Foresight Solar has raised approximately £48.1m through a share placing to part-fund the acquisition of 18 operational PV projects in the UK totalling 134.2MW.
As part of the placing asset manager BlackRock subscribed for shares worth £23.54m.
Foresight's proposed acquisition will bring the company’s total installed solar capacity to 808MW across 46 projects.
Foresight chairman Alexander Ohlsson said: “Through the anticipated acquisition of 18 operational assets in the UK, Foresight Solar will become the largest UK-listed dedicated solar energy investment company by installed capacity, further diversifying our asset portfolio and underpinning our long-term dividend policy.”
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