Spain News Today

Foresight Solar Fund Ltd (LSE:FSFL) fund manager Ross Driver joins Proactive’s Stephen Gunnion ahead of a capital markets days with an overview of the company’s strategy and performance. Driver outlined the company’s initiatives, such as reducing debt, executing a share buyback programme, and investing in developmental stage assets to stimulate future growth. Despite a challenging 2023, the company reported a record year for cash generation, benefiting from high price fixes. Additionally, it utilised significant cash reserves to further the buyback, utilising £30 million of the allocated £40 million.Driver highlighted the challenges and opportunities within the UK and Spanish energy markets. In the UK, the Battery Energy Storage System (BESS) market has faced issues like reduced wholesale revenues and project overlooks by system operators, necessitating adjustments. Conversely, Spain offers a nascent market, promising due to its high solar penetration and favourable conditions for battery storage. Driver said Foresight Solar Fund aims to leverage early mover advantages in Spain, developing projects that fit well into the existing grid and anticipating double-digit returns from these initiatives.Overall, Foresight Solar Fund is focusing on maintaining strong yield and net asset value (NAV) preservation while looking for growth opportunities through development, targeting a 1-2% NAV increase over time. #ForesightSolarFund, #RenewableEnergy, #SolarPower, #EnergyStorage, #RossDriver, #UKEnergyMarket, #SpainEnergyMarket, #InvestmentOpportunities, #GreenEnergy, #NetAssetValue, #CashGeneration, #ShareBuyback, #DebtReduction, #EnergyTransition, #BatteryStorage, #SustainableInvesting, #SolarInvestments, #DevelopmentProjects, #EnergySector, #CleanEnergy, #EnvironmentalImpact #ProactiveInvestors #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews