Foresight Solar Fund

LN: FSFL

Market Cap£662m

Last Close 108.6p

FSFL’s investment objective is to provide investors with a sustainable and progressive quarterly dividend underpinned by investments in a geographically diverse portfolio of assets. FSFL aims to preserve and, where possible, enhance capital value. FSFL acquires large-scale solar power plants, identifying solar opportunities in the UK and overseas markets (to 25% of gross asset value) and can also invest in battery storage systems up to a limit of 10% of the GAV.

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Investment summary

Foresight Solar Fund (FSFL) is the largest solar investor listed in the UK by total net peak capacity of c 1.07GW (when operational). We believe that the global and UK climate change policies will remain renewable energy friendly, creating further solar and battery storage growth opportunities for FSFL. FSFL provides investors with a covered, sustainable and growing dividend (even in 2020 amid depressed power prices). It is focused on further strengthening its dividend cover (1.21x in FY21, targeting a minimum of 1.5x in FY22) over the next four years. FSFL has recently secured further exclusive positions in ready-to-build battery storage projects totalling c 60MW targeted for completion in the coming months. FSFL expects these to be accretive to the portfolio NAV and target yields.

Content on Foresight Solar Fund
Foresight Solar Fund – executive interview
Investment companies | Edison TV | 30 August 2022
Foresight Solar Fund – Growth ambitions
Investment companies | research Review | 22 August 2022
People generating energy of the wind. Wind turbine. Alternative energy sources, eco friendly future, safe the planet concept.
Foresight Solar Fund – Powered by merchant exposure
Investment companies | research Review | 8 November 2021
People generating energy of the wind. Wind turbine. Alternative energy sources, eco friendly future, safe the planet concept.
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Share price graph
Price performance
%
1m
3m
12m
Actual (10.7) (5.7) 8.2
Relative* (4.7) (0.4) 14.3
52-week high/low 125.4p/98.4p
*% relative to local index
Key management
Ben Thompson Group marketing officer
Nish Sivarajan Institutional investor relations
Pietro Zerauschek Head of Foresight, North America

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