Foresight Solar Fund Ltd (LSE:FSFL, FRA:1F5) said a programme to upgrade nine UK solar farms could add up to £2.5 million in annual revenue and strengthen dividend cover, with the work scheduled for completion by summer 2027.
The projects span more than 150 MW of capacity, equivalent to roughly 20% of the fund’s UK portfolio, and involve replacing older panels and inverters with more efficient equipment. Foresight Solar expects the programme to increase electricity generation by as much as 14 GWh a year, or around 2% of current UK production.
The investment manager estimates the programme will contribute approximately 0.05x to dividend cover. At the current dividend target of 8.10p per share, it calculates that the dividend will be 1.1 times covered in 2026.
Early upgrades include the 8 MW Abergelli site and the 7 MW Pen Y Cae solar farm. Pen Y Cae recorded its highest-ever monthly generation in July at 1,195 MWh after new panels were installed. Foresight Solar said it has already secured the replacement equipment needed for the wider programme and will use maintenance reserves to fund works where possible.
