Foresight to dispose of 200MW of solar PV portfolio

Foresight Solar has begun a divestment programme for around 200MWp of solar PV projects. Proceeds from the sale will be used to reduce debt and recycle capital into yield-accretive opportunities.
Commenting on the company’s results, Alexander Ohlsson, Chairman of Foresight Solar, said: “Electricity production across the portfolio was 2.8% above budget, driven by strong operational performance and good irradiation, and, with assets in all geographies performing well, cash generation was exceptionally strong.” He added, “We have also commenced a divestment process to realise gains and recycle capital whilst retaining an attractively balanced portfolio. Proceeds from disposals will be used to reduce gearing and to cover commitments under the existing pipeline. Based on current forecasts, the sale of about 200MW of operational assets will allow the full funding of our expected pipeline until the end of 2025 without the need for additional external capital.
“More than ever, we are focused on strongly returns-accretive opportunities for new investments, and earlier-stage projects, such as the 467MWp development-stage pipeline we acquired in Spain, offer high NAV growth potential with lower upfront capital