Latest Breaking News On - Alex ohlsson - Page 8 : comparemela.com
By IPE staff2021-05-05T09:34:00+01:00
Foresight Solar Fund has made its first battery storage investment with the acquisition of a 50% stake in Sandridge Battery Storage Limited (SBSL).
The London-listed company is investing up to £12.7m (€14.6m) to buy its stake in SBSL alongside JLEN Environmental Assets which will also acquire a 50% equity stake.
SBSL holds the development rights to construct the Sandridge Battery Storage project, a 50MW lithium-ion battery energy storage system based in Melksham, UK.
Foresight Solar said it will fund the deal with its existing revolving credit facilities, adding that it has had a £25m extension of the revolving credit facility provided by NatWest.
AustraliaUnited-kingdomMelkshamWiltshireSpainLondonCity-ofAlex-ohlssonForesight-solar-fundNatwestSandridge-battery-storage-limitedForesight-groupPublished: 4 May 2021, 12:47
By:
Reporter, Solar Power Portal
Both Foresight and JLEN have taken a 50% stake in Sanbridge, JLEN s fourth battery investment alongside assets such as the co-located battery at its Yorkshire Hydropower asset in North Yorkshire (pictured). Image: JLEN.
Foresight Solar Fund and JLEN have each acquired a 50% equity stake in Sandridge Battery Storage Limited, which holds the development rights to the 50MW lithium-ion Sandridge Battery Storage project.
Located in Melksham, UK, adjacent to the Sandridge solar park which is already owned by Foresight, the asset - which is Foresight s first battery storage project - will share the distribution network point of connection with the solar park. It will be connected to Southern Electric Power Distribution’s network and have a 49.9MW import and export connection.
United-kingdomMelkshamWiltshireScotlandAlex-ohlssonSandridge-battery-storageForesight-solar-fundNatwestSandridge-battery-storage-limitedSouthern-electric-power-distributionDynamic-containmentBalancing-mechanismPublished: 9 Mar 2021, 12:17
By:
Image: Andreas Gucklhorn (Unsplash).
Foresight Solar Fund has confirmed its continued focus on fixed revenue streams as the impact of COVID-19 continues to be felt.
Low power prices during Q2 of 2020 continued to affect Foresight, as lockdown in the UK caused demand to fall to a record low, in turn driving down prices. In May, prices reached close to £22/MWh as primary electricity demand decreased up to 10% below the previous year for periods from March until June. This had an impact on the company’s Net Asset Value (NAV) of 13.1 pence per share.
However, the company made a strategic decision to maintain a high portion of fixed revenues linked to government subsidies and fixed price arrangements in the short and medium term. This helped manage the impact of the fall in price in the merchant markets in the first half of the year.
United-kingdomAustraliaSpainRicardo-pineiroAlex-ohlssonForesight-solar-fundUnited-kingdom-solar-at-foresight-fundNet-asset-valueSolar-power-portalUnited-kingdom-solarGross-asset-valueGeneral-meeting