Foresight Solar Fund Ltd (LSE:FSFL) fund manager Ross Driver talked with Proactive's Stephen Gunnion about the company’s results for the six months to 30 June 2025.
Driver said the performance during the first half of the year highlighted “the quality of the operational portfolio and the expertise of the team” and reinforced a resilient cash position. He noted that the fund’s share buyback programme has been a consistent source of value for shareholders since 2023 and that the board recently allocated a further £10.00 million to extend the initiative.
Discussing the fund’s capital allocation priorities, Driver explained that cash is being balanced between shareholder returns, debt reduction, and reinvestment in development opportunities. He highlighted progress in Spain, where the fund has secured capacity for battery storage projects and expects one of its solar developments to reach ready-to-build status soon.
On dividends, Driver confirmed that Foresight Solar Fund has raised payments every year since 2013, supported by wholesale power prices and its proactive hedging approach. He reiterated the company’s 1.3x dividend cover target for 2025. Looking ahead, Driver said the fund remains focused on narrowing the discount between its share price and NAV, while also advancing divestments to free up capital for shareholders.
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