Over 1000 Solar Rooftops Sold

INVESTMENT company, Foresight Environmental Infrastructure (FGEN) has sold its entire rooftop solar portfolio for £21.2 million.

The sale to AtmosClear Investments entails an upfront payment of £20.5 million, slightly exceeding its valuation. A further £700,000 is payable on certain conditions post-completion.

Solar Rooftops Sold

The sale comprises 1,099 operational domestic rooftop, commercial rooftop and ground-mounted solar installations with a total capacity of 6.5MW. Located across England, Scotland and Wales and yielding a 4.2% annual return, the solar rooftop collection was acquired by FGEN in 2015. It is FGEN’s only solar rooftop investment and considered to be non-core to the company’s main business.

It leaves FGEN‘s solar exposure of 11 ground-mounted solar parks, making up approximately 13% of the FGEN portfolio by value.

Ed Warner, Chair of FGEN, said: “We are pleased with this sales agreement which has provided us with substantial funds from a non-core, low yielding asset.”

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