Foresight acquires 2 UK PV plants

Share

The systems were acquired from project developer, Element Power Solar, for an undisclosed sum. Both of them – the four MW Puriton West project, and the two MW Summerway Drove project in Bridgewater – are fully operational and receive a pre-August 2011 feed-in tariff of 30.7 U.K. pence per kilowatt hour. Solarwatt will remain on as operations and maintenance contractor for the sites.

David Maguire, director of BNRG Renewables, which developed the two sites in cooperation with Element Power, commented, "Unlike many companies within the U.K. solar sector, we have overcome various unforeseen challenges during the last 12 months. BNRG’s partnership with Element Power Solar has left us as one of a small number of developers to successfully commission commercial-scale projects in the U.K."

With its latest acquisition, Foresight now owns 16 MW worth of photovoltaic systems in the country. Combined with its projects in Italy and Spain, the group has over £300 million worth of solar assets, accounting for more than 85 MW.

A spokesperson for the group additionally tells pv magazine that around 50 MW worth of projects were acquired last year. In 2012, they say there are more plans in the pipeline to buy up another 50 to 100 MW across the three aforementioned markets. While no set plans have yet been made, the U.S. market is also said to be of interest to the company.

Last year, Foresight launched a £30 million fundraiser in Foresight Infrastructure VCT Shares. It says that based on the funds already raised, its target is likely to be reached before the end of the year.

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Popular content

Rooftop PV installations could raise daytime temperatures in urban environments by up to 1.5 C

09 October 2024 New research from India shows that rooftop PV system may have "unintended" consequences on temperartures in urban environments. Rooftop arrays, for ex...

Share

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.