Foresight reaches 100MW in UK

UK PV investor Foresight Solar Fund (FSF) said it now has 100MW of operating capacity on its books after its latest acquisition was grid-connected earlier this month.

FSF – set up by Foresight Group to target UK assets and listed in a £150m ($252m) London IPO – said the 16MW Pitworthy project is the last of four plants acquired from SunEdison under a deal involving 55MW in total.

Foresight gave an update to investors as it emerged that German utility RWE will finance the building of the 37MW Kencot PV plant in Oxfordshire, which FSF will acquire on completion.

The UK has swiftly emerged as a PV development hotspot, driven by ground-mounted projects.

The UK government’s recently unveiled solar strategy aims to shift the emphasis to rooftop commercial-scale PV – a move analyst IHS said will help spur installations of 2.5GW-3GW annually to 2018.

IHS foresees 2.4GW of installations this year, and for the UK to have 16GW in place by 2018.