UK-based infrastructure investment manager Foresight Solar Fund has signed a binding contract to purchase 46MWp Landmead solar farm, which is claimed to be the largest solar farm in the country.
Located in East Hanney, Oxfordshire, the plant is presently under construction.
The facility is scheduled to be connected to the nation’s grid this month.
Post-acquisition, Foresight’s total committed assets will be raised to 231MWp, with 185MWp operational and generating revenue.
The company has recently raised £60m in gross proceeds from its initial placing and offer.
Foresight intends to use the funds along with its existing debt facilities for its announced 37.3MWp Kencot, 37.2MWp Bournemouth and Landmead acquisitions.
The firm expects to repay the current acquisition facility through a combination of the utilisation of further new equity issuance in early 2015 or refinancing with a long-term debt facility.
Foresight invests in ground-based solar power assets in the country. The investment group presently manages over £930m investments across 34 separate operating photovoltaic facilities in the UK, the US and southern Europe