Foresight Solar Fund Ltd fund manager Ross Driver takes Proactive's Stephen Gunnion through the company's full-year results and its strong portfolio performance despite record-low irradiation levels in the UK. Driver highlighted that Foresight Solar generated over 1,000 gigawatt hours of renewable energy—enough to power approximately 370,000 UK homes.
He also discussed the company’s stable dividend policy, with an 8p per share dividend for 2024 and a planned increase to 8.1p per share in 2025. Foresight Solar’s active hedging strategy and capital allocation approach have supported steady shareholder returns, with £67 million returned to investors through dividends and buybacks.
Driver reaffirmed the company’s focus on capital efficiency, debt reduction, and strategic growth through its proprietary development pipeline. The company recently doubled its Spanish development pipeline to 400MW of battery storage, which he described as a key step in future value creation.
Regarding market challenges, Driver acknowledged high interest rates and sector outflows but emphasised the long-term strength of renewables, supported by government policies in the UK and Europe. "We remain confident in the portfolio's quality and our income and growth strategy to drive total shareholder returns," he stated.
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