Foresight Solar Sells 50% Stake in Solar Projects Portfolio in Spain
The portfolio has a 10-year fixed price PPA with Statkraft
November 20, 2023
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Foresight Solar, a sustainability-focused fund investing in solar and battery storage assets, sold a 50% stake in Spain’s 99 MW Lorca solar portfolio. A Luxembourg-based fund advised by EB-Sustainable Investment Management (EB-SIM), a subsidiary of Evangelische Bank, paid €26.9 million (~$29.2 million) for the assets, a 21% premium to their third-quarter holding value. This represents an exit IRR of 12.1% on funds invested to date in the stake sold.
