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Kent-based asset manager Foresight intends to float its solar fund, raising £200m to pay for the acquisition of a network of solar power plants across the UK.

The company, which operates out of Sevenoaks, told investors that it hoped the Foresight Solar Fund would be admitted to the main market of the London Stock Exchange by late October 2013.

This would involve the placing of 200 million shares at 100p per share.

Proceeds from the initial public offering will be used to invest in a portfolio of UK-based solar power plants, which have already been identified by the business.

Jamie Richards, partner of Foresight Group, said: "Foresight Group has binding commitments for a portfolio of solar assets that the company can invest in from the outset, which will give investors access to the more predictable financial returns that UK solar offers over wind."

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