Update research from QuotedData - replacement
Updated link has been made to the Update research from QuotedData announcement released on 9th February 2022 at 14:45 under RNS No 2015B.
All other details remain unchanged.
The full amended text is shown below.
NextEnergy Solar Fund - Update research from QuotedData
9th February 2022
Climbing inflation and power prices driving NAV uplift
NextEnergy Solar Fund (NESF) is a leading investor in the UK solar power market. In addition, since investors approved a broadening of its investment policy in 2020, it has added exposure to battery storage and to solar assets in other OECD countries, leveraging the global expertise of its manager which is active across eight countries.
At end September 2021, NESF had 99 operational solar assets. The revenue from these comes from sales of power and government subsidies designed to encourage the growth of the renewable energy industry. The subsidy income - around 60% of the total - is inflation-linked (to RPI).
Rising power prices and higher inflation drove an uplift in NESF's net asset value (NAV) at end September and it might be reasonable to assume that there is more to come on that front. Currently, we think that a 7.0% dividend yield, covered by cash generated from the portfolio, represents an attractive entry point.
Full research:
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NB: Marten & Co was paid to produce this note on NextEnergy Solar Fund Limited and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors
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