FIM expands solar fund
Minimum individual investments of £50,000 targeting 7% IRR
Renewable energy investment manager FIM Services is opening its solar fund to new investment in order to raise finance to buy large-scale ground-mounted photovoltaic projects in the UK.
The FIM Solar Distribution fund is open for immediate subscription, subject to a minimum investment of £50,000.
It is targeting internal rate of returns of 7% and average annual distributions of 7.5% in years one to 10.
The fund already owns a £4.4m solar park, FIM said.
The closing date for new subscriptions in 29 September.
The fund has an initial termination date of 2026, but this could be extended, FIM said.
Fund manager Alf Francis said: “The fund allows investors to access a stable revenue stream from a low risk, well proven trade.”