Foresight soaks up Oz sun
Solar fund acquires 110MW Foresight project with two partners
Foresight Solar Fund and two partners have acquired the 110MW Bannerton solar farm in the Australian state of Victoria.
Foresight will own 48.5% of the project, with KDB Infrastructure Investments Asset Management a further 48.5% and Hanwha Energy Corp 3%.
Bannerton is expected to be connected to the grid in July 2018.
It has a 17-year fixed price power purchase agreement with Alinta Energy for a proportion of the energy generated.
The project also has a 10-year deal with the Victorian government for the sale of a proportion of large-scale generation certificates under the Renewable Energy Target regulatory framework.
Foresight Group partner Ricardo Piñeiro said: “The transaction launches (Foresight Solar)’s international growth strategy into the fast developing Australian solar market which offers investors attractive risk adjusted returns.”