Foresight Solar Fund has said it is to take a “prudent approach” to acquiring more solar farms in the UK, as the firm continues to tap EPCs for liquidated damages.
The firm published its H1 results for the six-months ended 30 June 2017 yesterday, revealing profit after tax of £11.5 million on the back of earnings totalling £23.28 million.
Having recently taken its UK operational capacity to 475MW, Foresight discussed the potential for it to increase its portfolio size even further. It estimated that as much as 2GW of capacity could be sold within the next 18 months but admitted that the UK’s secondary market was a particularly competitive environment to operate in.
As well as the usual suspects of Foresight, NextEnergy Capital and other investors remaining acquisitive, the UK’s significant solar capacity has attracted further would-be buyers. Vortex, who purchased the 365MW Terraform Power portfolio at the end of last year, is said to be targeting additional purchases while BlackRock recently partnered with Lightsource to launch Kingfisher, a new fund which is to invest £1 billion with the aim of amassing a 1GW portfolio.
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