United States
Australia
Generator: Foresight Solar Fund Limited
Technology: Solar PV
Capacity: 425MW
Location: 23 sites across the UK
Product/Participation: Framework PPA
Customer since: 2014
Introduction: Partnering for Sustainable Growth
The Foresight Group is a sustainability-led investment manager, on a mission to create a resilient, decarbonised world. Over the years, the Foresight Solar Fund has continued to grow its portfolio in the UK and abroad with over 60 solar and battery assets globally.
Project Details: Harnessing Solar Power for Clean Energy
SmartestEnergy have maintained a strong partnership with Foresight for over 10 years and are pleased to provide a route to market for 23 of their solar sites using our Framework PPA product. Situated across the UK, Foresight’s 23-site portfolio boasts a capacity of 425MW, harnessing the power of the sun to generate enough power to supply over 155,000 homes annually with clean, green electricity.
Solution: Enhancing Revenue Optimisation with Framework PPA
Using our Framework PPA product, Foresight have access to greater hedging opportunities, allowing them to optimise revenues by fixing the power value for future periods of their choosing. We provide Foresight with live market prices and regular market commentary to ensure they can follow market trends and insight to help inform their selling decisions and maximise the value from the portfolio. The product also enables Foresight to take advantage of market movements swiftly and flexibly across their multiple sites by selling power for different sites at different times and prices with a simple, low-risk approach.
“Being able to hedge power prices ahead of time and smooth out some of that market volatility with SmartestEnergy is a key component of our strategy. This gives us better revenue visibility and, ultimately, helps ensure we’re able to provide the income our shareholders seek.” said Ross Driver, Managing Director from the Foresight Solar Fund (FSFL)
Outcome: Driving the Transition to Net Zero
As the drive towards net zero encourages greater investments into renewable energy, we are pleased to provide security to Foresight and its investors. With long-term stability and financial backing from our parent company, Marubeni, we can confidently assure that we can continue to meet all contractual terms for the full contract duration, serving as a creditworthy and reliable partner, supporting the energy transition.