Foresight Solar Fund acquires 16MW solar asset

Foresight Solar Fund Limited (FSFL) has announced that it has completed the acquisition of a 16MW operational asset in the United Kingdom.

The 16MW Membury asset, located in Hungerford, was connected to the Grid in March 2015 and has received Renewable Obligation Certificate ("ROC") accreditation at the rate of 1.4ROCs/MWh

Membury is the second asset of the previously announced 51MW exclusive portfolio together with the 35MW Port Farm asset acquired by the company in August 2015.

The acquisition has been funded using the company's existing £150 million acquisition facility. The company expects to repay the facility through refinancing with a long-term debt facility and/or further equity raises.