Q1 2021 Net Asset Value

RNS Number : 7580Y

Foresight Solar Fund Limited

17 May 2021

 

Foresight Solar Fund Limited ("the Company")

Q1 2021 Net Asset Value ("NAV")

Foresight Solar Fund Limited, a fund investing in a diversified portfolio of ground-based solar PV and Battery Storage assets in the UK and internationally, announces that as at 31 March 2021 its unaudited Net Asset Value was £558.7 million (31 December 2020: £582.20 million), resulting in a NAV per Ordinary Share of 91.9 pence (31 December 2020: 95.8 pence per share).

The decrease in NAV over the first quarter is largely attributable to a downward revision in the medium and long-term power price forecasts during the period (-2.3 pence per share) and the recent announcement of the increase in UK Corporation Tax to 25% from April 2023 (-1.3 pence per share), which is assumed to remain unchanged thereafter for the remaining useful economic life of the UK portfolio assets.   

The Gross Asset Value ("GAV"), including Company and subsidiaries, as at 31 March 2021, was £1,023.5 million (31 December 2020: £1,054.6 million).

Dividend

The Company re-affirms its FY 2021 dividend target of 6.98 pence per share. 

For further information, please contact:

Foresight Group
Jonathon McManus	[phone]
([e-mail])

Jefferie s International Limited	[phone]
Neil Winward
Gaudi Le Roux

Citigate Dewe Rogerson	[phone]
Toby Moore
Elizabeth Kittle
Lucy Gibbs

 

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