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Foresight Solar secures pipeline of solar farms of 467MW capacity in Spain

Foresight Solar Fund has secured a pipeline of solar farms with a total capacity of 467MW in Spain.

The projects known as “Project Lynx” are currently in development-stage.

The company secured the portfolio from a renewable energy company and distribution network operator Grupo Cuerva.

According to the company, this strategic investment is spread across the south and east of Spain. It includes the rights to six subsidy-free solar development projects.

It has been reported that two of the sites have sought grid connections while one has already secured grid access. The project is likely to reach ready-to-build status in 2024. Besides, other projects will apply for grid connections through the capacity market auctions.

Alexander Ohlsson, Chairman of Foresight Solar Fund Limited, was quoted in statement, “The Investment Manager has the expertise to take on these types of projects, carefully pricing risk and capturing the increased financial upside for the Company.”

He further added, “This was demonstrated when our existing 125MW Spanish solar portfolio was brought through to operations last year, resulting in approximately two pence per share of NAV uplift in 2022.

According to Foresight Solar, the latest acquisition has given company the further opportunity to deliver value for their partners.


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