- Early stage innovation company (ESIC) to fund solar power and develop patented drone surveillance technology
- Innovative automated drone technology, currently used to monitor high rise properties in Singapore and Far East, to be adopted for large scale solar farms
- Two-year term and provides Australian wholesale investors with access to government ESIC incentives which can boost return.
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Sydney, 6th April 2020: Global infrastructure and private equity investment manager Foresight Group LLP (“Foresight”) has launched SunBot Early Stage Innovation Company (Foresight Solar Debt ESIC), a unique investment fund providing Australian wholesale investors with the opportunity to support Australian innovation while funding a solar power platform that will underpin stable returns.
The fund will provide first ranking senior secured funding to one or two solar plants in Australia. These projects may be in construction or operational stage. Data from the solar plant will be used to develop a solar drone technology in collaboration with H3Dynamics for use in the utility-scale solar sector.
Using senior secured debt, Foresight Solar Debt ESIC is targeting an enhanced return for wholesale investors and will deliver significant environmental benefits through the funding of a zero-emissions solar generation plant.
Kim Nguyen, Director and Head of Australia at Foresight, said: “Investors have shown an increasing appetite for sustainable returns while combating the impact of climate change. We are excited to offer this opportunity to participate directly in Australia’s renewable energy transition while developing pioneering drone technology for the sector.”
It is anticipated that the construction of a new solar plant would save approximately 1.9 million tonnes of CO2 emissions over the life of the plant compared to the equivalent coal generation. This is equivalent to planting 20 million trees or offsetting c. 13,000 hectares of bushfire-generated carbon emissions. Over its lifetime, this solar plant would generate enough clean energy to power 500,000 Australian homes for one year.
Managing funds on behalf of institutions, Foresight has become one of the largest international investors into solar in Australia with over 250MW of solar projects. One of the projects, Bannerton Solar Park, provides clean energy to power the Melbourne tram network.
If you’d like to arrange an interview with Kim Nguyen, please get in touch with:
T: +61 0410598568
About Foresight Group LLP
Foresight is a leading infrastructure and private equity investment manager which has been investing on behalf of institutions and private investors for over 35 years.
Foresight has circa $9.5 billion of Assets Under Management, of which around $8 billion relates to renewable energy infrastructure. Foresight currently manages more than 290 renewable generation assets globally, with a total generating capacity of 2.2GW.
In Solar, Foresight has invested in over 130 solar plants and has more than 1.3GW of solar generation assets under management around the world. Foresight has established itself as one of the largest solar investors in Australia: managing A$400 million across four Queensland solar farms and the 110MW Bannerton project in Victoria, a 192 hectare solar farm that generates enough clean electricity to power 30,000 homes and provides clean energy to the Melbourne Tram network.
In Wind, Foresight has more than 600MW of wind generation assets across the UK, France, Germany and Sweden of which 370MW are operational.
Foresight manages 40 bioenergy and waste projects in the UK and Europe processing some two million tonnes of waste every year, having mobilised more than $2 billion of capital investment into the sector.
In addition, in the UK, Foresight manages 170MW of Reserve Power assets and three utility scale Battery Storage projects providing 46MW of Enhanced Frequency Response (“EFR”) services to National Grid.
Foresight is headquartered in London with international offices in Sydney, Rome, Madrid and Seoul.