10 March 2021
The Australian solar portfolio of the UK-based Foresight Solar Fund delivered results well below expectations in 2020 as a result of storms, connection delays, grid constraints, a lack of sunshine, and falling power prices.
Foresight released its annual results on Tuesday. It is not alone in suffering from issues with its Australian solar portfolio, but as one of the few listed entities that own renewable energy assets in Australia, it gives valuable insight into the operations of the often opaque local electricity market.
Foresight owns interests in four Australia solar farms, the 15MW Longreach (49 per cent), the 25MW Oakey 1 (49 per cent) and the wholly owned 55MW Oakey 2 in Queensland, and the 88MW Bannerton (49 per cent) in Victoria. (All figures above in AC rather than DC in table below). They account for around 15 per cent of its total portfolio.