Acquisition

RNS Number : 9670A

NextEnergy Solar Fund Limited

31 December 2014

 



31 December 2014

NextEnergy Solar Fund Limited ("NESF")

Agreement to acquire a solar power plant of 19.4MWp

-      Share purchase agreement signed to acquire 19.4MWp Boxted Airfield solar power plant ("Boxted Airfield") for up to £20.6 million

-      NESF has now secured eleven assets for a total of c. 124 MWp and a total investment value of c. £145 million (c. 79% of equity proceeds raised to date)

NESF is pleased to announce the signing of a share purchase agreement ("SPA") to acquire a special purpose vehicle owning the Boxted Airfield solar power plant project.  The plant will be constructed under an Engineering, Procurement and Construction contract ("EPC") negotiated by NESF's Investment Manager, NextEnergy Capital Limited. 

The Boxted Airfield plant is located in Essex, and is to be accredited under the 1.4 Renewable Obligation Certificate ("ROC") regime.  Construction has begun on the plant, with site preparation complete and civil works under way. In the event the plant is not commissioned by March 2015 or does not secure the 1.4 ROC regime, NESF has the right to terminate the SPA and not acquire the plant without incurring any financial penalties.

The Boxted Airfield plant is located on low grade agricultural land within the former RAF Boxted airfield site. The site development plan has been elaborated to achieve significant benefit to the immediate local wildlife population and diversity.

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
MHP Communications	020 3128 8100
Andrew Leach
Jamie Ricketts
Gina Bell

Notes to Editors:

NextEnergy Solar Fund

NextEnergy Solar Fund (www.nextenergysolarfund.com) is a specialist investment fund focused on operational solar photovoltaic ("PV") assets located in the UK.  The Company intends to provide investors with a sustainable and attractive dividend that increases in line with RPI over the long term and an element of capital growth through the re-investment of net cash generated in excess of the target dividend.

Further information on NextEnergy Capital and WiseEnergy is available at www.nextenergycapital.com and www.wise-energy.eu.

 

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