Foresight Acquires Three Queensland Projects

The London-based Foresight Solar Fund is planning to acquire three solar projects that are under construction in Queensland after paying a $55 million debt facility from the Clean Energy Finance Corporation as reported by The Australian Financial Review.

The purchase of the three solar farms from Canadian Solar will enhance the Foresight portfolio in Australia to 252 megawatts building on the acquisition of the Bannerton project in Victoria last September of 2017 and the Barcaldine project in Queensland in the early part of 2017.

According to Foresight partner Ricardo Pineiro, the 146 megawatts of new assets will ensure more diversity across the company’s portfolio. According to Gloria Chan, CEFC lead for large-scale solar, as part of their Foresight investment, the company will collaborate with the Australian Energy Market Operator in installing 5-minute forecasting technology that will ensure stability on the grid.

Click here to read the full story on The Australian Financial Review