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Foresight Group LLP, the alternative asset manager and private equity house, has announced that funds managed by Foresight have acquired Sunstroom Energy Limited, the owner of a fully operating 5MW solar PV plant in Wiltshire, UK.
This acquisition is the tenth Solar PV project to be completed by Foresight in 2011. Foresight has been both an active fundraiser and investor in Solar energy, becoming the UKs largest tax-efficient manager of European Solar assets with just under 100MW of operational Solar PV assets in UK, Italy and Spain.
Sunstroom Limited (part of the Vendor group) is to be retained as the Operations & Maintenance contractor to ensure a smooth hand-over of the asset.
Jamie Richards, Head of Infrastructure at Foresight said: “Our portfolio of operational PV Solar assets in the UK and across Europe is approaching 100MWs and continues to perform ahead of expectations. We will continue to build our solar portfolio and are now also investing in the wider Infrastructure sector as an aggregator of smaller scale conventional infrastructure assets.”
Iain Morrison, Managing Director of Sunstroom added: “We are delighted to have completed the sale of our Wiltshire PV Solar Park to Foresight, where we will continue to carry out operational and maintenance responsibilities. We intend to focus our attention on new Solar opportunities in Croatia and Canada.”
