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Published: 9 Mar 2021, 12:17 By: Image: Andreas Gucklhorn (Unsplash). Foresight Solar Fund has confirmed its continued focus on fixed revenue streams as the impact of COVID-19 continues to be felt. Low power prices during Q2 of 2020 continued to affect Foresight, as lockdown in the UK caused demand to fall to a record low, in turn driving down prices. In May, prices reached close to £22/MWh as primary electricity demand decreased up to 10% below the previous year for periods from March until June. This had an impact on the company’s Net Asset Value (NAV) of 13.1 pence per share. However, the company made a strategic decision to maintain a high portion of fixed revenues linked to government subsidies and fixed price arrangements in the short and medium term. This helped manage the impact of the fall in price in the merchant markets in the first half of the year. ....
Budget 2021: £68m storage competition announced but solar notably missing solarpowerportal.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from solarpowerportal.co.uk Daily Mail and Mail on Sunday newspapers.
Published: 2 Mar 2021, 11:12 By: Image: Bluefield. Bluefield Solar Income Fund has posted strong results for the six months ending 31 December 2020, with net asset value (NAV) growing to £476.7 million. This marked a £43.2 million jump from the first half of last year, with new project acquisitions, an oversubscribed share placing and the beginning of a broader focus on renewable expansion key highlights of the period. With NAV up, NAV per share grew to 117.12p from 117.01p and the company’s dividend target for FY21 grew to 8.00p per share. Compared with the six months to 31 December 2019, underlying earnings were down slightly to £18.7 million from £20.7 million. This was driven by lower generation – which was down by 6% – and lower power purchase agreement pricing – which was down by 8%. ....