Acquisition of three plants

RNS Number : 2917E

NextEnergy Solar Fund Limited

03 November 2015

 

03 November 2015

NextEnergy Solar Fund Limited ("NESF")

Acquisition of three plants with capacity of 18.0MWp and an investment value of £18.1 million

-      Share purchase agreement exchanged to acquire the 8.0MWp Ellough Solar 2 which will be an extension of NESF's Ellough plant

-      Share purchase agreement exchanged to acquire the 4.99MWp Decoy

-      Share purchase agreement exchanged to acquire the 4.99MWp Hall Farm

-      NESF has now secured 24 assets totalling 271.1MWp and a total investment value of £314.2 million

NESF is pleased to announce the signing of three share purchase agreements for three separate projects with unrelated counterparties, to acquire the special purpose vehicles owning Ellough Solar 2, Decoy and Hall Farm. 

Ellough Solar 2 is an 8.0MWp solar plant being built and is expected to be connected ahead of 31 March 2016 with a view to receiving 1.3 ROC support under the Significant Investment Grace Period for large scale projects. The acquisition will be completed once the site has been connected and 1.3 ROC accredited.

Decoy and Hall Farm are two 4.99MWp Feed-in-Tariff ("FiT") pre-accredited projects being built and are expected to be connected before the end of the year. The acquisitions will be completed after they have been connected within their FiT pre-accreditation window.

Since announcing its capital raise of £38.8 million on 24 September, NESF has announced the acquisition of six solar power plants totalling 36.3MWp with an investment value of £40.2 million.

For further information:

NextEnergy Capital Limited	020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe	020 7894 7667
Sue Inglis
Shore Capital	020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Macquarie Capital (Europe) Limited	020 3037 2000
Ken Fleming
Nick Stamp
MHP Communications	020 3128 8100
Andrew Leach Jamie Ricketts Gina Bell

Notes to Editors:

NextEnergy Solar Fund (NESF)

NESF is a specialist investment company that invests in operating solar power plants in the UK.  Its objective is to secure attractive shareholder returns through RPI-linked dividends and long-term capital growth.  The Company achieves this by acquiring solar power plants on agricultural, industrial and commercial sites.

NESF has raised equity proceeds of £285.4 since its initial public offering on the main market of the London Stock Exchange in April 2014.  It also has credit facilities amounting to £54.2m in place. 

NESF is differentiated by its access to NextEnergy Capital Group (NEC Group), its Investment Manager, which has a strong track record in sourcing, acquiring and managing operating solar assets.  WiseEnergy is NEC Group's specialist operating asset management division, providing solar asset management, monitoring and other services to over 1,200 utility-scale solar power plants with an installed capacity in excess of 1.5 GW.

Further information on NESF, NEC Group and WiseEnergy is available at www.nextenergysolarfund.com, www.nextenergycapital.com and www.wise-energy.eu.

 

END

 

 

ACQFMMGMNZRGKZM