Foresight Solar Fund : Audited Annual Results to 31 December 2014 & Dividend Announcement

Highlights

• The first interim dividend of 3.0 pence per share was paid on 30 September 2014. The second interim dividend of 3.0 pence per share was approved on 2 March 2015 and will be paid on 27 March 2015, bringing the full period dividend to 6.0 pence.
• The Directors have approved an increase in the frequency of dividend payments from semi-annually to quarterly.
• The Company's 231MW, ten asset UK solar portfolio is fully operational following the recent grid connection and financial completion of the UK's largest operating solar project, the 46MW Landmead asset in Oxfordshire.
• The Company now owns and manages the largest operating UK solar portfolio in its listed peer group, including four of the seven largest operational UK solar plants.
• The Company's portfolio of ten assets were all connected prior to the 31 March 2015 cut-off when the 1.4 Renewable Obligation Certificate ("ROC") regime ends for projects greater than 5MWs. As the entire portfolio is already operational, the assets are each generating income for the benefit of the Company.
• The Company maintains a low risk approach to the sector by seeking to avoid blind pool, development and construction risk in its acquisition of solar assets. This deliberate strategy minimises the exposure of its investments to changes in regulation such as the accelerated introduction of a cliff-edge deadline in March 2015 for ROC projects greater than 5MW.
• Performance of the assets since their acquisition is in-line with the expectations of the Investment Manager.
• Financial completion of the tenth portfolio asset, Kencot, (which has a binding agreement in place for its acquisition) is expected in the first quarter of 2015.
• The financial completion of the Kencot asset will utilise the remainder of the Company's existing £100m acquisition facility.
• The Company has announced the second placing of new Ordinary Shares under the Placing Programme announced on 25 September 2014 in accordance with the Prospectus.

Key Metrics

*Based on Share price in period since IPO

Commenting on today's results, Alexander Ohlsson, Chairman of Foresight Solar Fund Limited said:

""The Board and Foresight Group CI Limited, the Investment Manager, believe that strong progress has been made in establishing the Company's position on the UK listed market as a leading dedicated solar renewable infrastructure company. This position is expected to strengthen further once the exchanged contract to acquire the Kencot plant completes. This continued growth in scale gives us confidence in achieving the original objectives of the Company."

A conference call for analysts will be held at 9:00am on Tuesday 3 March 2015. A presentation will be provided separately prior to the call.

To register for the call please contact Malcolm Robertson at Citigate Dewe Rogerson Malcolm.Robertson@citigatedr.co.uk or by phone: +44 (0)20 7282 2867.

For further information, please contact:

Foresight Group

Elena Palasmith

epalasmith@foresightgroup.eu

+44 (0)203 667 8100

Stifel Nicolaus Europe Limited +44 (0)20 7710 7600

Mark Bloomfield

Neil Winward

Tunga Chigovanyika

J.P. Morgan Cazenove +44 (0)20 7742 4000

William Simmonds

Notes to Editors

About Foresight Solar Fund Limited ("The Company" or "FSFL")

FSFL is a Jersey-registered closed-end investment company. The Company invests in ground based UK solar power assets to achieve its objective of providing Shareholders with a sustainable and increasing dividend with the potential for capital growth over the long-term.

The Company raised proceeds of £150m through an initial public offering ("IPO") of shares on the main market of the London Stock Exchange in October 2013, and a further £60.1m through an Initial Placing and Offer for Subscription in October 2014.

About Foresight Group

Foresight Group was established in 1984 and today is a leading independent infrastructure and private equity investment manager with over £1.3 billion of assets under management. As one of the UK's leading solar infrastructure investment teams Foresight funds currently manage c. £1 billion in over 40 separate operating Photovoltaic ("PV") plants in the UK, the USA and southern Europe.

In May 2013 Foresight executed an innovative refinancing of its existing UK solar assets through the issue of a £60m London Stock Exchange listed index-linked Solar Bond.

Foresight Group has offices in London, Nottingham, Guernsey, Rome and the USA.

www.foresightgroup.eu

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