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A UK-based renewable energy investor, the Foresight Solar Fund, is showing a vote of confidence in SA’s economy and renewable energy sector by taking a secondary listing on the JSE on April 3. SA has a world-class renewable energy programme but Eskom has caused concern by refusing to sign new offtake agreements, citing costs and a surplus. The energy department has reiterated its support for more renewable energy. Selling completed projects with offtake agreements to an investment fund allows developers to realise capital for new projects and long-term conservative investors to make a steady, predictable return. Last year Hulisani, which has an interest in Kouga Wind Farm, became the JSE’s first listed green energy fund. Since its income is derived from UK power plants, the Foresight Solar Fund will also offer a rand hedge. The fund is managed and advised by Foresight Group, which launched its first fund in 2008 and now holds assets in Australia, the UK, Italy and the US. Foresight ...

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