Foresight Solar Fund Ltd has announced it has acquired the remaining minority stakes in three solar farms in the UK.
In July 2015, Foresight acquired a majority stake in the solar farms via a joint venture (JV) with Big60Million Limited, a community solar group backed by Belectric.
The company has expanded its portfolio to 348 MW following the acquisition of the 34 MW of solar assets.
The projects are a 15 MW solar farm in Atherstone and a 10 MW solar farm in Southam – both located in the English Midlands county of Warwickshire and the 9 MW Paddock Wood array, located in Kent, near London. Each of these large-scale solar farms were connected to the grid in March 2015.
Foresight Solar Fund has acquired the projects with the proceeds from its recent equity fundraising. A Placing of Treasury Shares in September 2016 raised £28.9 million (US$36.3 million) and subsequent Tap Issue in October 2016 £31.9 million (US$40.1 million).