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- Foresight Solar proposes policy change to allow investment in development stage assets
Foresight Solar proposes policy change to allow investment in development stage assets – Foresight Solar (FSFL) has proposed changes to its investment policy to allow it to invest up to 5% of its gross asset value into development stage assets, being solar or battery storage system opportunities that are pre-construction and may not have secured grid connection rights or planning consent at the date of investment. Such investments may include direct investment in projects or investment via corporate development funding structures.
Based on experience and current market opportunities available, the board sees an opportunity for the company to invest in solar, BSS and co-location projects at pre-construction development stage, where they have a delivery plan and have either secured the necessary land rights, or options to obtain such land rights, but require additional work to be completed before the project is ready to commence construction. For example, this additional work may include the agreement of key contracts, the securing of planning permission, grid connections and environmental permits (or other necessary permits).
The board believes the proposed change would benefit shareholders in the following ways:
Shareholders can vote on the proposals at the upcoming AGM due to take place on 15 June.
FSFL : Foresight Solar proposes policy change to allow investment in development stage assets
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