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Published: 9 Mar 2021, 12:17
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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.
Image: Gov Facility Services Ltd.
Plans to rollout solar PV across two Southern England prisons have been unveiled by Gov Facility Services Ltd (GFSL).
Rooftop solar is to be installed at HMP Bure near Norwich in Norfolk, to reduce reliance on the existing electric load by 17% and save 79 tonnes of CO2 a year. It comes after six months of planning, with the installation of the array is to be completed by the end of March 2021.
A second project is also underway at Whitemoor Prison in Cambridgeshire, GFSL said, where ground-based solar panels are being installed. The installation is scheduled to be completed in July.