Foresight Solar Fund Limited : Trading Statement

Foresight Solar Fund Limited ("The Company")

Trading Update

• Agreement to acquire 1.6 ROC, 12MW Spriggs Farm asset (not included in IPO Prospectus). 

• 80% of IPO proceeds now invested in operational assets, 31% at 2 ROC rate, 49% at 1.6 ROC rate. 

• 93% of IPO proceeds will shortly be invested in operational assets. Holsworthy (detailed in IPO Prospectus) to be connected as a 1.4 ROC project, with its price being adjusted to achieve the same return to the Company. 

• The Company is finalising an acquisition facility as the remaining IPO proceeds will not extend to the acquisition of any single remaining asset as detailed in the Prospectus and to allow for the acquisition of further pipeline assets. 

• The Company confirms its intent to deliver a target dividend of 6p per ordinary share in respect of its first financial year. 

Foresight Solar Fund Limited ("the Company") is pleased to announce that it has agreed to acquire a 12MW operating asset. The asset, "Spriggs Farm" is located close to Stansted Airport in Essex and has been connected to the grid since March 19^th 2014, thus qualifying for a 1.6 ROC level. Spriggs Farm was not included in the Company's IPO Prospectus.

At IPO, the Company's £150 million of funds were fully allocated to a portfolio of large scale UK solar assets. The 32.2MW, 2 ROC accredited, Wymeswold plant has been operational and accruing revenues for the Company since November 2013. The Company announced on 31^st March 2014 the operational status of a further 39.6MW acquired from SunEdison and eligible for 1.6 ROCs.

The fourth SunEdison asset detailed in the Company's IPO Prospectus (Pitworthy "Holsworthy SPV") will be connected shortly and thus will qualify for 1.4 ROCs, the purchase price for this asset will be adjusted to achieve the same return to the Company.

The Company is finalising an acquisition facility as the remaining IPO proceeds will not extend to the acquisition of any single remaining asset as detailed in the Prospectus and to allow for the acquisition of further pipeline assets. The remaining assets detailed in the Company's IPO Prospectus will each be acquired as 1.4 ROC assets with their acquisition prices being adjusted accordingly.

The Company continues to see a strong availability of assets becoming available for acquisition and expects to double its operational capacity in the coming 12 months.

The Company confirms its intent to deliver a target dividend of 6p per ordinary share in respect of its first financial year, rising annually with RPI thereafter, and enabling the Company to support its strategy to sustain the NAV, offering the potential for further capital growth.

ENDS

For further information
Sarah Cole       [e-mail]                       01732 471 863

Notes to Editors

About Foresight Solar Fund Limited ("The Company" or "FSFL")

FSFL is a Jersey-registered closed-end investment company. The Company invests in ground based solar power assets to achieve its objective of providing Shareholders with a sustainable and increasing dividend with the potential for capital growth over the long-term.

The Company raised proceeds of £150m through an initial public offering ("IPO") of shares on the main market of the London Stock Exchange in October 2013.

About Foresight Group

Foresight Group was established in 1984 and today is a leading independent infrastructure and private equity investment manager with over £1 billion of assets under management. As one of the UK's leading solar infrastructure investment teams Foresight funds currently manage over £650 million in 27 separate operating Photovoltaic ("PV") plants in the UK, the USA, Italy and Spain. 

In 2013 Foresight executed a refinancing of its UK solar portfolio at that time through the issue of a £60m London Stock Exchange listed index-linked Solar Bond.

Foresight Group has offices in the UK, the USA and Italy.

www.foresightgroup.eu

---

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Foresight Solar Fund Limited via Globenewswire

HUG#1773594