Foresight launches solar VCT

Venture capital trust (VCT) manager Foresight Group hopes to raise £40 million for a fund dedicated to investments in the solar energy sector.

The Foresight Solar VCT aims to capitalise on feed in tariffs recently introduced by the UK government, a mechanism intended to guarantee prices for solar-generated electricity for the next 25 years.

Jamie Richards, CEO of Foresight Solar, says, ‘The UK has now implemented an incentive programme for solar similar to those that have driven solar installations in other European countries.’

Richards adds, ‘We have an investment team in place with a track record of experience in the financing of solar plants in Italy and Spain and we look forward to applying this experience in the UK.’

VCTs offer upfront tax relief of 30 per cent of the amount invested, provided that an individual’s income tax payments exceed this sum.

Foresight manages £200 million across traditional VC funds, enterprise investment schemes and VCTs.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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