Foresight Solar Fund Inks Deal For Three Assets In Australia

by BPVA on 12 October 2017

Foresight Solar Fund Inks Deal For Three Assets In Australia

Foresight Solar Fund Ltd on Thursday said it has entered into contracts with Canadian Solar Inc to buy three construction stage assets in Queensland, Australia.

The assets, Longreach Solar Farm, Oakey 1 Solar Farm, and Oakey 2 Solar Farm, represent 117 megawatts of peak capacity once installed.

Foresight has acquired a 49% stake in Longreach and Oakey 1, and 100% of Oakey 2.

The company said its investment will amount to a total of AUD64 million, including expected construction costs.

"The board and I are delighted to announce the company's second significant solar acquisition overseas. This represents the continuing development of the company's international growth strategy in Australia's solar sector. The transaction is further evidence of the success the investment manager has had leveraging the extensive solar experience and track record of Foresight's global infrastructure team," said Chairman Alex Ohlsson.

Shares in Foresight Solar were up 0.4% at 110.98 pence Thursday.

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