Foresight Solar Fund has acquired a 16-megawatt solar farm in the United Kingdom.
Located in Hungerford, England, the Membury project is eligible for Renewables Obligation at 1.4ROC/MWh, PV Magazine reports.
The project was connected to the grid in March and has received Renewable Obligation Certificate accreditation at the rate of 1.4ROCs/MWh.
In August Foresight Solar Fund had acquired the 35-megawatt Port Farm project as part of a 51MW exclusive portfolio previously announced.
Foresight has funded its latest acquisition using the company’s existing £150 million acquisition facility. It expects to repay the facility through refinancing with a long-term debt facility and/or further equity raises.
Ajith Kumar S