Foresight Solar Fund fund manager discusses interims results, £50M buyback and dividend outlook

Proactive - Interviews for investors

Foresight Solar Fund Ltd fund manager Ross Driver discusses the fund's performance in the first half of 2024, highlighting how they managed to navigate challenging market conditions. Despite facing the wettest quarter in UK history and declining power prices, Driver told Proactive's Stephen Gunnion Foresight Solar delivered resilient results, falling only slightly behind revenue and EBITDA forecasts. Driver also shared updates on the fund’s capital allocation strategy, including increasing the share buyback program to £50 million and confirming the target dividend of £0.08 per share for 2024. He discussed the ongoing sale of the Australian portfolio, totaling 170MW, expected to close by mid-2025, with proceeds planned for debt reduction. "The first quarter was one of the wettest in recorded UK history, but despite this, cash distributions were only marginally behind forecasts," noted Driver. Foresight Solar remains optimistic, with a growing pipeline of battery and solar projects, particularly in Europe. Driver mentioned, "We see the transition to a low carbon economy as one of the biggest investment opportunities for a generation." Visit Proactive’s YouTube channel for more updates on Foresight Solar Fund Ltd and other investment opportunities. Don't forget to like the video, subscribe to the channel, and enable notifications for future content. #ForesightSolar #SolarInvestment #RenewableEnergy #RossDriver #DividendUpdate #ShareBuyback #SolarPower #CleanEnergy #CapitalStrategy #AustralianDivestment #BatteryStorage #SolarGrowth #ProactiveInvestors #GreenEnergy #SustainableInvesting #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews