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Equity Bottom-Up

Foresight Solar Fund Ltd / Equity Bottom-Up

<p>Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by total net peak capacity of c 1.07GW (when operational). We believe that the global and UK climate change policies will remain renewable energy friendly, creating further solar and battery storage growth opportunities for FSFL. FSFL provides investors with a covered, sustainable and growing dividend (even in 2020 amid depressed power prices). It is focused on further strengthening its dividend cover (1.21x in FY21, targeting a minimum of 1.5x in FY22) over the next four years. FSFL has recently secured further exclusive positions in ready-to-build battery storage projects totalling c 60MW targeted for completion in the coming months. FSFL expects these to be accretive to the portfolio NAV and target yields.</p>

Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by total net peak capacity of c 1.07GW (when operational). We believe that the global and UK climate change policies will remain renewable energy friendly, creating further solar and battery storage growth opportunities for FSFL. FSFL provides investors with a covered, sustainable and growing dividend (even in 2020 amid depressed power prices). It is focused on further strengthening its dividend cover (1.21x in FY21, targeting a minimum of 1.5x in FY22) over the next four years. FSFL has recently secured further exclusive positions in ready-to-build battery storage projects totalling c 60MW targeted for completion in the coming months. FSFL expects these to be accretive to the portfolio NAV and target yields.

<p>Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by installed capacity. With power prices more than tripling in 2021, FSFL’s c 25% merchant share of revenues allows the fund to benefit from this increase. While a lower discount rate was the largest contributor to the NAV per share increase to 104.1p in Q321 (98.0p at end-June 2021), power prices were the key external factor affecting the NAV. FSFL provides investors with a covered, sustainable and growing dividend (including in 2020 amid depressed power prices), underpinned by subsidised assets in the UK and high-return growth opportunities globally. Given the solar industry’s huge growth potential across the world, National Grid expects the UK’s solar capacity to more than double within the next 10 years.
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Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by installed capacity. With power prices more than tripling in 2021, FSFL’s c 25% merchant share of revenues allows the fund to benefit from this increase. While a lower discount rate was the largest contributor to the NAV per share increase to 104.1p in Q321 (98.0p at end-June 2021), power prices were the key external factor affecting the NAV. FSFL provides investors with a covered, sustainable and growing dividend (including in 2020 amid depressed power prices), underpinned by subsidised assets in the UK and high-return growth opportunities globally. Given the solar industry’s huge growth potential across the world, National Grid expects the UK’s solar capacity to more than double within the next 10 years.


Foresight Solar Fund - Powered by merchant exposure

United Kingdom

Foresight Solar Fund Limited is a closed-end investment company incorporated in Jersey.  It seeks to provide investors with a sustainable and increasing dividend together with the potential for capital growth over the long term from investing in a diversified portfolio of predominantly UK ground based solar assets, such as UK operational solar power plants.

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Foresight Solar Fund Ltd (FSFL LN)

Foresight Solar Fund - Growth ambitions

Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by total net peak capacity of c 1.07GW (when operational). We believe...

Edison Investment Research

Foresight Solar Fund - Powered by merchant exposure

Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by installed capacity. With power prices more than tripling in 2021,...

Edison Investment Research

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