November 24 (Renewables Now) – Foresight Photo voltaic Fund Ltd (LON:FSFL) at present stated it expects the windfall levy on low-carbon electrical energy turbines to scale back its September 30, 2022 internet asset worth (NAV) by GBP 0.008 (USD 0.010/EUR 0.009) per share.
The Foresight Group-managed fund, which invests in photo voltaic and battery storage property within the UK and overseas, beforehand reported unaudited NAV as of September 30, 2022 of GBP 771.2 million, or GBP 1.264 per share.
The UK chancellor last week announced an Electrical energy Generator Levy at a charge of 45% of income from energy gross sales above a value of GBP 75 per MWh proposed to be in place from January 1, 2023 to March 31, 2028.
FSFL stated its UK photo voltaic property will fall throughout the scope of the levy, with revenues earned beneath Feed in Tariffs (FiT), Renewable Obligation Certificates (ROCs) or Contracts for Variations (CfDs) to be exempt.
The web impression of the levy calculated by the corporate displays changes making an allowance for the higher readability on authorities coverage after the autumn assertion, which nearly offset the impact of the levy on anticipated UK photo voltaic era revenues.
Earlier this week, Bluefield Photo voltaic Revenue Fund Ltd (LON:BSIF) supplied the same evaluation of the levy’s impression, saying it resulted in a internet discount of GBP 0.03 to its NAV as of September 30, 2022.
Draft laws for the proposed levy is anticipated to be printed in the course of subsequent month.
(GBP 1 = USD 1.195/EUR 1.158)