Foresight Solar enters into BESS framework ahead of continuation vote

With Chelion Iberia

Cristian Angeloni
clock • 3 min read

Foresight Solar fund (FSFL) has agreed a framework with Chelion Iberia to tap into battery energy storage system (BESS) projects in Spain.

In a stock exchange notice today (13 May), the trust said the framework with the Chelion Renewables Group subsidiary will increase its proprietary pipeline while requiring no upfront investment and "only a modest development capital" to take opportunities in ready-to-build statuses in the next few years. Numis analyst Andrew Rees highlighted that FSFL's battery storage exposure currently comprises of 50% in stakes in a 50MW asset currently under construction and two pre-construction assets, with the remaining half in its sister fund, JLEN Environmental Assets. The trust's value of the...

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