Foresight Group LLP, a London-based asset manager, raised £150 million in an initial public offering for a fund focusing on solar power investments, Britain's second to target the technology.

The fund offered shares at 1 pound each to investors who ordered 150 million shares, Foresight said five days ago in a statement. The proceeds were lower than the £200 million to £250 million targeted. The shares started trading under the ticker FSFL in London today.

Foresight Solar Fund intends to invest the net proceeds of the issue in an identified portfolio of UK ground based solar power plants.

RBC Capital Markets acted as sole Global Co-ordinator, Sponsor and Bookrunner to the Company. Winterflood Securities Limited acted as Co-Lead Manager.

The share offering is the U.K.'s fourth clean-energy IPO this year and the second to target Britain's growing market for large-scale solar parks after Bluefield Partners LLP (BSIF)'s £130 million placement in July.

Greencoat U.K. Wind Plc (UKW) raised £260 million in March and The Renewables Infrastructure Group Ltd. (TRIG), which targets both wind and solar projects, raised £300 million in July.