Foresight Solar Fund - 500 Beiträge pro Seite

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... noch eine britische YieldCo

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Antwort auf Beitrag Nr.: 50.581.955 von R-BgO am 08.09.15 19:04:26

notiert ziemlich genau bei NAV,

6% Ausschüttung

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Antwort auf Beitrag Nr.: 52.937.302 von R-BgO am 28.07.16 13:55:52

Spread in Frankfurt

ist irre hoch mit 7%

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Foresight Group acquires 25MW Australia solar farm from Elecnor

By Tom Kenning Feb 17, 2017

London-based asset management firm Foresight Group has acquired a 25MW solar farm in Queensland from Elecnor Australia, a subsidiary of Spain-based energy firm Elecnor.

The acquisition of the Barcaldine Remote Community Solar Farm was performed on behalf of KDB Infrastructure Investments Asset Management (KIAMCO) and Hanwha Energy. KIAMCO and Hanwha both provided equity financing for the project, which is the first Australian plant to come under Hanwha’s management.

Foresight’s Sydney-based team is also forecasting strong opportunities in energy-from-waste projects in the country.

Gary Sofarelli, director, Foresight Group said: "Foresight will continue to work with developers and investors over the coming years to firmly establish itself as an astute energy infrastructure investment manager of solar, energy-from-waste and wind assets in Australia.”

The Barcaldine farm started feeding electricity to the grid in December last year. It received AU$20 million in debt finance from the Clean Energy Finance Corporation (CEFC).

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February 24, 2017 02:01 ET | Source: Foresight Group
Acquisition

Foresight Solar Fund Limited ("the Company") is pleased to announce the completion of its second largest acquisition to date and its second acquisition of 2017, a 100% interest in a 49.6 MW operational UK solar asset, Sandridge solar farm, located in Wiltshire ("Sandridge"). Sandridge was connected to the National Grid in March 2016 and has received Renewables Obligation Certificate ("ROC") accreditation of 1.3ROCs/MWh. The Company has acquired the economic benefit of all project cash flows since 1 January 2017.

The Company's portfolio now totals 18 assets with an installed peak capacity of approximately 470 MW, representing an average capacity of 26 MW per asset.

The acquisition of Sandridge has been primarily funded via a new £55m revolving credit facility, announced 23 February 2017, provided by Santander Global Corporate Banking at a rate of LIBOR + 2% for three years.

The Company intends to repay this credit facility through equity issuance in 2017. The facility will provide additional financial flexibility for future growth opportunities, with the Company having identified a further pipeline of operational solar assets with a combined installed capacity of approximately 100 MW.

Commenting on the acquisition and the new debt facility, Alex Ohlsson, Chairman of the Company, said:

"The Company's latest acquisition, its second this month, demonstrates the strong pipeline of assets that the Investment Manager has identified in recent months. The purchase of Sandridge is in line with the Company's cautious growth strategy, minimising the impact of cash drag for investors. The new credit facility was secured at attractive terms and will allow the Company to remain competitive when targeting pipeline opportunities during the course of 2017."

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3 March 2017

Foresight Solar Fund Limited

Initial Placing, Offer for Subscription, Introduction of Placing Programme,

South African Secondary Listing and Private Placement, and

Net Asset Value Update


The Board of Foresight Solar Fund Limited (the "Company") is pleased to announce its intention to raise in excess of £50 million by way of an Initial Placing and Offer for Subscription (the "Initial Placing and Offer") and a secondary listing ("Secondary Listing") on the main board of the securities exchange operated by the JSE Limited ("JSE") and Private Placement in South Africa (the "Private Placement") of new Ordinary Shares ("New Shares") (together the "Initial Issues"). The Board of the Company is also pleased to announce its intention to implement a Placing Programme in relation to up to 250 million New Shares less any New Shares issued under the Initial Issues. The Initial Issues and the Placing Programme are together known as the "Issues".

A prospectus in relation to the Issues and a pre-listing announcement in relation to the Secondary Listing and Private Placement are expected to be published shortly.

The Company also announces its unaudited NAV as at 23 February 2017 of £360 million, resulting in a NAV per share of 105.6 pence (31 December 2016: 102.9 pence). For the avoidance of doubt, this includes the impact of the acquisition of Shotwick and Sandridge announced in February 2017. The Company's equity discount rate used to value its assets remains unchanged at 7.5% and the methodology for calculating the NAV remains consistent with that used to calculate the 31 December 2016 NAV.


Rationale for the Issues

The Board believes that the UK solar market remains attractive, particularly given the recent recovery in wholesale power prices. Furthermore, the Company and Foresight Group CI Limited (the "Investment Manager") continue to see attractive investment opportunities in both the primary and secondary UK solar market and wish to be in a position to take advantage of these opportunities as and when they arise. The recent acquisitions of the Shotwick and Sandridge solar plants, which represent the Company's two largest acquisitions to date, are evidence of the attractive investment opportunities available in the market, which the Investment Manager has been able to source.

The Investment Manager is currently evaluating an investment pipeline of operational UK based solar power plants representing an installed capacity of approximately 250MW.

To date, the Company has used the net proceeds from its equity fundraisings and its Bank Facilities to acquire 18 ground based solar power plants. All of these assets are fully operational and have received accreditation under the RO scheme. The Portfolio has a total operational capacity of approximately 470 MW. Following the recent acquisitions of Shotwick and Sandridge, the Company has drawn down, in aggregate, £255 million under its Bank Facilities (£160 million under its Term Loan Facilities and £95 million under its Revolving Credit Facilities).

The Board has therefore been discussing with its advisers a proposal to raise additional equity by means of the issue of up to 250 million New Shares in aggregate over the following twelve months.

It is currently intended that the net proceeds of the Initial Issues will be used, in the first instance, to repay the Revolving Credit Facilities either in full or in part. The Group may then draw down again under the Revolving Credit Facilities or it may use any remaining net proceeds to invest in or commit to further ground based solar power plants in accordance with the Company's investment policy.

Any proceeds raised under the Placing Programme will be used to take advantage of investment opportunities in accordance with the Company's investment policy and/or to repay debt.


Rationale for the Secondary Listing and Private Placement in South Africa

The success of the South African Renewable Energy Program has created a sophisticated understanding and appreciation of solar and other renewable energy assets in South Africa, and interest in the Company. Due to South African exchange control regulations, South African investors' ability to invest and hold shares outside of South Africa is restricted in terms of size. In order to facilitate participation by South African investors in the Issues, the Company has applied and has been granted approval by the Financial Surveillance Department of the South African Reserve Bank for an inward listing of the Company on the JSE and a Private Placement of New Shares to Qualifying South African Investors. The inward listed shares will be classified as domestic investment on the JSE and will allow South African investors the opportunity to invest in the Company on an unrestricted basis. The Company believes that the Secondary Listing and Private Placement will:

-improve the depth and spread of the shareholder base of the Company which should, as a result improve the liquidity and tradability of the Ordinary Shares;

-provide the Company with access to a wider pool of international capital; and

-provide the Company with an additional platform to raise equity funding to pursue growth and investment opportunities in the future.

Following the Secondary Listing and Private Placement, the Ordinary Shares will be fully transferrable between the UK and South African share registers. Rand Merchant Bank, a division of FirstRand Bank Limited ("RMB"), has been appointed by the Company as South African Bookrunner and JSE Sponsor for the Secondary Listing and Private Placement.


The Initial Issues

The Initial Placing and Offer is being conducted, subject to the satisfaction of certain conditions, through a bookbuild process which will be launched immediately following this announcement. Stifel Nicolaus Europe Limited ("Stifel") is acting as sponsor and joint bookrunner in connection with the Initial Placing and Offer and Placing Programme and J.P. Morgan Securities plc, which carries on its UK investment banking activities as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is acting as joint bookrunner in connection with the Initial Placing and Offer and Placing Programme.

The Offer for Subscription is being made in the UK only. The public generally (unless they are located or resident outside the UK) may apply for New Shares through the Offer for Subscription.

The price at which the New Shares will be issued pursuant to the Initial Placing and Offer ("Initial Placing and Offer Price") will be equal to the NAV per Share on 23 February 2017 plus a premium as determined by the Board and is expected to be announced via RIS on or around 14 March 2017.

The price at which the New Shares will be issued pursuant to the Private Placement ("Private Placement Price") will be equal to the ZAR equivalent of the Initial Placing and Offer Price determined based on the ZAR/GBP spot rate at the closing of the Private Placement (as quoted on Bloomberg). The Private Placement Price will be announced by the Company through SENS on 29 March 2017.

The total number of New Shares issued under the Initial Issues will be determined by the Company, Stifel, J.P. Morgan Cazenove and RMB. The Board has reserved the right, in consultation with Stifel, J.P. Morgan Cazenove and RMB, to increase the number of New Shares offered pursuant to the Initial Placing and Offer and the Private Placement to up to the maximum amount for which the Board is seeking shareholder authority pursuant to the Issues, being 250 million New Shares.

The New Shares will be entitled to receive the interim dividend of 1.55p per Ordinary Share in respect of the period from 1 October 2016 to 31 December 2016 which will be paid on 5 May 2017 provided the holders of the New Shares are on the Register on 7 April 2017.


Extraordinary General Meeting

The Issues are subject to Shareholder approval to be sought at an extraordinary general meeting ("EGM") to be held at 4:30pm on 22 March 2017 at Elizabeth House, 9 Castle Street, St. Helier, Jersey JE4 2QP. A circular and notice of EGM (the "Circular") to approve, amongst other proposals, the issue of the New Shares without having to first offer those New Shares to existing Shareholders, and to approve by ordinary resolution the Related Party Transaction that may arise if any of BlackRock, Inc. and its Associates, including funds controlled by it or any of them wish to take part in the Issues, are expected to be posted shortly.

Words and expressions that are defined in the Prospectus and the Circular shall have the same meaning where they are used in this announcement, except where the context requires otherwise.

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UK solar investor Foresight enters battery storage fray with 35MW project purchase
Published: 21 Jun 2017, 10:17
By: Liam Stoker


UK-based infrastructure investor Foresight Group has sealed its maiden battery storage purchase, acquiring the 35MW RES-built Port of Tyne project in the North-East of England.

The project – one of eight battery storage installations to receive a National Grid Enhanced Frequency Response contract while also being successful in this year’s capacity market auction – will become the latest addition to Foresight’s renewables infrastructure portfolio which already crosses the solar and energy from waste sectors.

Construction of the project will start immediately and it is expected to come on stream early next year.

Foresight revealed it was edging closer to its first battery storage play earlier this year and Dan Wells, partner within Foresight’s infrastructure team, heralded the technology’s potential to offer up interesting investment opportunities.

Project 'sets exciting precedent for the integration of battery storage into the UK energy system'

At that time he spoke of the need for a diverse mix of revenue streams to make utility-scale battery storage feasible from an investment perspective, and today spoke of the technology’s contribution to the wider energy transition.

“The acquisition consolidates Foresight's position as a leader in investing both in renewable energy generation and the flexible grid infrastructure required to accommodate increasing penetration of renewables, such as energy storage.

“We are delighted to have worked alongside RES (Renewable Energy Systems) to reach financial close on this pioneering project which sets an exciting precedent for the integration of battery storage into the UK energy system,” Wells said.

Meanwhile Rachel Ruffle, managing director at RES, said that the company looked forward to building and operating the Port of Tyne project on Foresight’s behalf.

Foresight used funds from its inheritance tax solution (ITS) to finance the purchase and was advised by Osborne Clarke.

It is not the first EFR-supported battery storage project to exchange hands however. Italian power company Enel snapped up Element Power’s 12.5MWh project last month, joining the likes of major international utilities EDF and Vattenfall who will own and operate National Grid-supported projects once they’re complete.

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https://www.solarassetmanagementeu.com/new-updates-source/20…

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Foresight casts net to Western Europe, Australia and the US in search of solar

By Liam Stoker Aug 16, 2017


Foresight Solar Fund, one of the UK’s largest solar asset holders, is casting its net as far as Australia and the US as it seeks to bolster its portfolio.

The firm revealed today that it is currently reviewing a pipeline in excess of 500MW in size with a view to purchase, including assets in the UK, Western Europe, Australia and the US.

Foresight said its investment manager’s local presence in each market and existing relationships had helped it source the portfolio.

The company recently took its UK solar portfolio to 475MW, but today said that while the UK remained an attractive destination for investment there were other opportunities outside of the country that could deliver value-accretive growth.

It further revealed that it expects between 1GW and 2GW of UK-based operational assets to be sold within the next 12 to 18 months, prompting renewed competition.

NextEnergy Solar Fund has already set out its stall for further asset buys, and late last month BlackRock with partnered Lightsource for a £1 billion secondary market play which could see it acquire as much as 1GW of operational capacity.

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Antwort auf Beitrag Nr.: 55.538.046 von R-BgO am 16.08.17 18:17:43

Foresight to acquire 117MW Australian PV portfolio from Canadian Solar

By Conor Ryan Oct 13, 201


Foresight Solar Fund has entered into binding contracts with Canadian Solar to acquire three PV projects in Australia representing 117MW of peak capacity once installed.

The assets are the:

* 17MW Longreach Solar Farm, the
* 30MW Oakey 1 Solar Farm and the
* 70MW Oakey 2 Solar Farm,

with Foresight acquiring 49% interests in both Longreach and Oakey 1, along with an 100% interest in Oakey 2.

Longreach and Oakey 1 have entered into 20-year, fixed-price offtake agreements with the Queensland Government for the sale of 100% of the electricity generated. Both Longreach and Oakey 1 are expected to be connected to the grid in March 2018 and September 2018, respectively.

Oakey 2 is expected to connect to the grid in October 2018, with the offtake agreement to be agreed to at a later stage.

Alex Ohlsson, chairman of Foresight Group, said: 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.”

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Antwort auf Beitrag Nr.: 55.947.791 von R-BgO am 13.10.17 15:18:39

Foresight completes acquisition of Canadian Solar’s Australian portfolio

By John Parnell Jan 03, 2018 6:16 PM GMT 0

Foresight has completed the acquisition of Canadian Solar’s Australian solar project pipeline.

The three construction stage assets in Queensland will total 117MW. Foresight will take 100% ownership of the 70MW Oakey 2 project and a 49% interest in the 17MW Longreach Solar Farm and the 30MW Oakey 1 asset.

The agreement was first made public in October 2017.

Work on Oakey 2 will begin now that it has reached financial close and will be grid connected in October 2018. Longreach and Oakey 1 will be operational in March 2018 and have 20-year power purchase agreements (PPAs) in place with the Queensland government. They also have a joint debt facility of A$65 million from the Clean Energy Finance Corporation (CEFC) and The Bank of Tokyo-Mitsubishi UFJ (MUFG). CEFC will also provide a A$55 million debt facility for Oakey 2.

“We are delighted to have completed the acquisition of these projects and to be working once again alongside CEFC on Oakey 2,” said Ricardo Piñeiro, partner of Foresight. “These Australian assets ensure greater diversity across the portfolio and will be making a strong contribution for our investors once operational,” he added.

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4 July 2018
Foresight Solar Fund Limited (the “Company”)

Result of Placing

Further to the announcement on 18 June 2018, the Board of Foresight Solar Fund Limited (the “Board”) is pleased to announce that it has raised approximately £48.1 million of gross proceeds through a placing of new ordinary shares of no par value in the Company ("New Shares") (the "Placing"). The Board is pleased to note that the Placing has been significantly oversubscribed and investor demand for the Placing has exceeded the maximum Placing size of 44,995,209 New Shares. Accordingly, a scaling back exercise has been undertaken with respect to applications received pursuant to the Placing.

The net proceeds of the Placing will be used as part of the funding for the purchase of a portfolio of 18 operational solar assets in the UK with a total installed capacity of 134.2 MW for a consideration of approximately £55.0 million (the "Acquisition"). The Acquisition is expected to complete by the end of July 2018.

Applications will be made in respect of the 44,995,209 New Shares issued pursuant to the Placing to be admitted to the premium segment of the Official List and to trading on the London Stock Exchange's Main Market for listed securities ("Admission"). It is expected that Admission will become effective and dealings in the New Shares will commence on 6 July 2018. When issued, the New Shares will rank pari passu with the existing Ordinary Shares.

Following Admission, the Company expects to have 494,947,300 Ordinary Shares in issue. The total number of voting rights of the Company will be 494,947,300 and this figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company.

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Position aufgemacht; damit habe ich alle 3 Briten: Bluefield, TRIG, Foresight

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40% der Erträge kommen aus Zuschreibungen