(Alliance News) - Foresight Solar Fund Ltd said on Monday it has entered 10-year power purchase agreement for the electricity generated at its solar portfolio in Andalusia, Spain.
The Jersey-based solar-power investment company said the power purchase agreement is with Statkraft AS, an Oslo-based generator of renewable energy. The deal provides the 98.5 megawatt solar portfolio with a 10-year fixed price for around 70% of its annual production.
Foresight Solar said the agreement will increase the company's earnings visibility and secure a high proportion of contracted revenue for the portfolio.
Foresight Solar added that it remains on target to pay an annual dividend of 6.98 pence per share for 2021.
Shares in Foresight Solar were down 0.1% at 100.81 pence on Monday morning in London.
By Heather Rydings; heatherrydings@alliancenews.com
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Foresight Solar Fund (FSFL)