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Foresight Solar Fund : FSFL – new solar plant

Foresight Solar Fund has announced that its 16MW Pitworthy plant is now connected to the grid and operational. Also RWE Supply and Trading will finance construction of Foresight Solar Fund’s 37MW Kencot plant and Foresight no longer plans to buy a plant in Deptford that was highlighted as a potential acquisition in the fund’s prospectus.

The net of all this is that 88% of the IPO proceeds are now invested in operational assets and, on the strength of this, the Foresight Solar Fund Board has reconfirmed its intention to pay an initial 6p dividend.

The Kencot site sits on a 129-acre disused airfield, formerly RAF Broadwell, at Kencot Hill near Brize Norton. It will have 144,000 solar panels and, once connected, should produce enough electricity to power 10,000 homes. Hedgerows will be reinforced to hide much of the site from public view.

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