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Investing.com -- Foresight Solar Fund Limited (LSE:FSFL) on Wednesday reported a 2.2% decline in its net asset value (NAV) per share to 108.5p for the second quarter ending June 30, 2025.
The 2.5p per share decrease was primarily driven by lower power price forecasts, which reduced the NAV by 2.3p per share. These forecast reductions affected the UK market in the near and medium term, with Spain and Australia also experiencing lower forecasts compared to the previous quarter.
Despite the NAV decline, the company confirmed its fiscal year 2025 dividend cover guidance at 1.3x. The payment of the interim dividend accounted for a 2.0p per share reduction in NAV during the quarter.
Portfolio performance made a positive contribution of 2.2p per share to the NAV, while the company’s share buyback program added 0.2p per share.
Total (EPA:TTEF) electricity generation was 5.5% above budget in Q2, with actual irradiation 11.3% above budget during the period. UK assets were particularly strong, producing 10.3% more electricity than budgeted.
In contrast, Spanish assets generated approximately 15% below budget, while Australian assets performed well at more than 8% above budget.
The company’s gearing remained stable at 40% of gross asset value, unchanged from March 2025, with total debt reported at £401.8 million.
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