Foresight Group has announced a strategic investment decision to finance and oversee the development of a €300 million, 267MW solar portfolio in Greece, marking a significant expansion in its geographic operations.
Utilizing its extensive experience, Foresight Group facilitated the origination, co-investment sourcing, and financing arrangements for the solar project. This move also includes establishing a new local office in Athens, enhancing its presence in the region.
In financial results ending 31 March 2024, Foresight Group reported robust performance with core earnings before interest, tax, depreciation, and amortization (EBITDA) pre-share based payments (SBP) rising by 18% to £59.3 million. Revenue also saw a notable increase of 19% to £141.3 million compared to the previous year.
Bernard Fairman, Executive Chairman of Foresight Group Holdings, highlighted the company's achievements: “We have delivered another strong year of profitable growth as the Group benefitted from increasing demand for our higher margin retail vehicles and successful institutional fundraising activity from our private equity business.”
Fairman continued, “Having achieved significant profitable growth since listing on the London Stock Exchange in 2021, we are today updating our growth guidance to double core EBITDA pre-SBP over the next five years.”
