Foresight Solar Fund

LN: FSFL

Market Cap£732m

Last Close 120p

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 installed capacity. With power prices more than tripling in 2021, FSFL’s c 25% merchant share of revenues allows the fund to benefit from this increase. While a lower discount rate was the largest contributor to the NAV per share increase to 104.1p in Q321 (98.0p at end-June 2021), power prices were the key external factor affecting the NAV. FSFL provides investors with a covered, sustainable and growing dividend (including in 2020 amid depressed power prices), underpinned by subsidised assets in the UK and high-return growth opportunities globally. Given the solar industry’s huge growth potential across the world, National Grid expects the UK’s solar capacity to more than double within the next 10 years.

Content on Foresight Solar Fund
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.
A solar/renewable energy forum with Ricardo Pineiro and Olivia Eijking
Investment companies | Edison TV | 20 July 2021
Foresight Solar Fund – Solar energy: the future is here
Investment companies | research Initiation | 18 February 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 6.2 17.4 22.8
Relative* 5.2 18.0 18.8
52-week high/low 124.4p/93.5p
*% 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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