Foresight Solar fund (FSFL) has agreed a framework with Chelion Iberia to tap into battery energy storage system (BESS) projects in Spain.
In a stock exchange notice today (13 May), the trust said the framework with the Chelion Renewables Group subsidiary will increase its proprietary pipeline while requiring no upfront investment and "only a modest development capital" to take opportunities in ready-to-build statuses in the next few years. Numis analyst Andrew Rees highlighted that FSFL's battery storage exposure currently comprises of 50% in stakes in a 50MW asset currently under construction and two pre-construction assets, with the remaining half in its sister fund, JLEN Environmental Assets. The trust's value of the...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
