Acquisition

RNS Number : 8362H

NextEnergy Solar Fund Limited

19 March 2015

 

19 March 2015

NextEnergy Solar Fund Limited ("NESF")

Agreement signed to acquire a solar power plant of 6.5MWp

-      Share purchase agreement signed to acquire 6.5MWp Park View solar power plant ("Park View") for up to £7.5 million

-      NESF has now secured 14 assets for a total of c. 154.8MWp and a total investment value of c. £179.2 million (c. 73% of equity proceeds raised to date)

NESF is pleased to announce the signing of the share purchase agreement ("SPA") to acquire a special purpose vehicle which owns the Park View solar power plant.  The plant is being constructed under an Engineering, Procurement and Construction contract ("EPC") negotiated by NESF's investment advisor, NextEnergy Capital Limited. 

Park View is located in Devon, and is to be accredited under the 1.4 Renewable Obligation Certificate ("ROC") regime.  The SPV will be acquired by NESF upon achievement of the preliminary acceptance certificate ("PAC"), which NESF expects to be issued by May 2015. 

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 (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 more than £245m since its initial public offering on the main market of the London Stock Exchange in April 2014.  It also has a two-year revolving credit facility of £31.5m 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 1,000 utility-scale solar power plants with an installed capacity in excess of 1 GW.

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

 

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