Foresight Solar Fund Limited COVID-19 Update (7899H)
27 Marzo 2020 - 1:00AM
UK Regulatory
TIDMFSFL
RNS Number : 7899H
Foresight Solar Fund Limited
27 March 2020
Foresight Solar Fund Limited
27 March 2020
Foresight Solar Fund Limited
("Foresight Solar" or the "Company")
COVID-19 Update
Foresight Solar, a fund investing in a diversified portfolio of
ground-based solar PV assets in the UK and internationally, today
issues an update on its response to the COVID-19 outbreak.
The Company reported record asset availability and an
above-budget performance from its UK portfolio in the year ended 31
December 2019, and year to date in FY20 there has been no
operational disruption linked to COVID-19. The Board of Foresight
Solar is however working closely with its Investment Manager,
Foresight Group ("Foresight"), and all key service providers to
monitor the emerging threat of COVID-19 to the global economy and
potential impact on the Company portfolio. During this developing
and unprecedented crisis, the health and safety of all company
stakeholders and their staff is of primary importance.
The Company recently conducted a full review of all key service
providers and can confirm that it has confidence in the resilience
of the business continuity plans that its providers have in place.
More specifically, Foresight has been working closely with its key
operational counterparties to ensure that adequate business
continuity plans are in place and that operational risks are
minimised.
Foresight anticipates that there may be a further short-term
reduction in power prices due to an anticipated drop in demand,
however power prices are forecast to improve over the medium
term.
There is currently no evidence to suggest that Covid-19 will
materially affect the Company's operational or financial
performance. As such, the Company is not currently budgeting any
material impact on its cash flows and, for clarity, it re-affirms
its FY 2020 dividend target of 6.91 pence per share.
For further information, please contact:
Foresight Group
Jonathon McManus +44 (0)20 3667 8147
(JMcManus@ForesightGroup.eu)
(InstitutionalIR@ForesightGroup.eu)
Citigate Dewe Rogerson +44 (0)20 7638 9571
Nick Hayns
Louise Mason-Rutherford
Elizabeth Kittle
Lucy Eyles
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END
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