In QuotedData’s morning briefing 4 January 2022:
- Foresight Solar Fund (FSFL) has taken its holdings in the Oakey 1 (30 MW) and Longreach (17 MW) solar farms in Queensland, Australia up to 100%. The fund bought a 49% stake in each farm in December 2017 and has acquired the remaining 51% in each from Canadian Solar Inc. The purchase price for the remaining stakes in the two assets is equivalent to approximately 1% of the fund’s latest NAV. Both assets are fully operational and the company now has the freedom to pursue initiatives designed to optimise the performance of the plants.The assets currently have senior debt facilities in place from the Bank of Tokyo-Mitsubishi and the Clean Energy Finance Corporation. The senior debt facilities expire in April 2022 and are expected to be refinanced during the first quarter of 2022.Both Longreach and Oakey 1 benefit from Power Purchase Agreements (PPAs) for the sale of electricity and Large-scale Generation Certificates with the Queensland Government. The certificates are under a contract-for-difference structure (offering a guaranteed minimum price for the power produced) and run for a period of 20 years from the date of commissioning.
- India Capital Growth (IGC) says it received redemption requests for 15,608,872 shares, 13.9% of its shares in issue (excluding treasury shares). The redemption price will be announced on 12 January 2022.
- BlackRock Latin American (BRLA) underperformed its benchmark by 0.94% per year over the four year period ended 31 December 2021. Following an earlier commitment to shareholders, it plans to offer a tender offer for up to 24.99% of its issued share capital (excluding treasury shares). There’s a bit of a wait, however. Shareholders will vote on the proposed tender at the AGM planned for around the middle of May 2022.