A total of 58,000,000 new shares will be issued on the exchange’s main market, of which 56,073,801 were placed and 1,926,199 offered for subscription.
FSFL will use the funds to complete the acquisition of the 37MW Bournemouth and 37MW Kencot solar projects.
The company will draw down about £40m from its acquisition debt facility to complete the transactions.
The acquisition of Bournemouth and Kencot solar projects will increase FSFL’s assets base to £250m.
Both the projects bring FSFL’s total operating assets to 185MW which includes three of the largest six solar power parks in the UK.
Foresight chairman Alexander Ohlsson said: "We are pleased with the support for the company demonstrated by the results of the IPO, particularly in the light of current volatile equity market conditions."
"The proceeds, together with existing debt facilities, will be used for the completion of the acquisition of the two assets at Bournemouth and Kencot which the group has already contracted to acquire."
FSFL’s objective is to acquire a portfolio of operational solar power plants, particularly in the UK.
It is managed by a team from Foresight Group, an infrastructure and private equity investment management firm.
