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Foresight Solar Fund Ltd - Jersey-based solar-power investment company - Signs new three-year sustainability-linked facilities agreement. Will be used to fund acquisition and construction of ground-based solar photovoltaic and battery storage assets, and working capital.
The facilities entail a committed multi-currency revolving credit facility of GBP150 million and an uncommitted accordion facility of up to GBP30 million. RCF will replace its existing two existing RCFs, and can be extended for a further year.
The interest charged for the new RCF will be linked to its sustainability performance, and Foresight will incur a premium or discount to the margin and commitment fee based on its performance against defined targets. The targets include increasing renewable generation and battery storage capacity, increasing contributions to community funds, and implementing enhanced environmental, social & corporate governance reporting for suppliers.
Current stock price: 102.01 pence, 0.2% lower on Monday
12-month change: up 1.0%
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