Foresight Solar Fund (FSFL): Initiation - Solar...
|
Edison Investment Research Limited
London, UK, 19 February 2021
Foresight Solar Fund (FSFL): Initiation - Solar energy - the future is here Foresight Solar Fund (FSFL) has consistently delivered on its investment objective from its launch in October 2013. It is the largest UK solar player and provides investors with a covered, sustainable and growing dividend, underpinned by subsidised assets in the UK and high-return growth opportunities globally. This continued during the fund's arguably most challenging few years, amid declining power prices and the COVID-19-triggered economic shock. The solar industry's growth potential remains huge. The IEA estimates that solar capacity needs to quadruple in the next decade globally (a 20% CAGR) to limit global warming to 1.5°C. The UK's solar capacity is forecast to more than double within the next 10 years.
FSFL's lower premium to NAV than the peer group average (6.7% vs 8.7%) could be attributed to weaker NAV growth, as valuation methodologies differ. As power prices recover, we expect FSFL to surprise on the upside. The trust's opportunity to revalue is underpinned by a higher energy yield due to a wider geographic mix (Australia and Spain) and valuation assumptions that appear more conservative. Click here to view the full report or here to sign up to receive research as it is published.
All reports published by Edison are available to download free of charge from its website About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings. Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney. Edison is authorised and regulated by the Financial Conduct Authority. Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities. For more information, please contact Edison: Victoria Chernykh +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Dan Gardiner +44 (0)20 3077 5700 investmenttrusts@edisongroup.com Learn more at www.edisongroup.com and connect with Edison on: LinkedIn https://www.linkedin.com/company/edison-group-/ Twitter www.twitter.com/Edison_Inv_Res YouTube www.youtube.com/edisonitv
Dissemination of a CORPORATE NEWS, transmitted by EQS Group. |
1169458 19-Feb-2021
Latest directors dealings
- 11 hours ago Savannah Energy
- 12 hours ago Buccaneer Energy PLC
- 12 hours ago Savannah Energy
- 12 hours ago Carclo
- 12 hours ago Schroder Japan Growth Fund