Acquisition

RNS Number : 0697P

NextEnergy Solar Fund Limited

29 August 2017

 

29 August 2017

NextEnergy Solar Fund Limited ("NESF" or the "Company")

Acquisitions

·     Acquisition of two operating solar plants totalling 21.7MWp with an investment value of £26.4m 

·     Since IPO in 2014, NESF has now secured a portfolio of 50 solar PV assets with a total capacity of 505MWp and a total investment value of £581m.

NESF is pleased to announce the signing and completion of a share purchase agreement for the acquisition of two operating solar plants for a total installed capacity of 21.7MWp.  The plants were acquired were from one counterparty and comprise Bay Farm (8.1MWp, Suffolk) and Honnington (13.6MWp, Suffolk). Both plants were connected to the grid during March 2014 and are accredited under the 1.6 Renewable Obligation Certificate regulation. The acquisition will be funded by the Company's existing resources.

NESF continues to pursue further transactions from its pipeline of acquisition opportunities and expects to announce further investments in due course.

For further information, please contact:

NextEnergy Capital Limited	020 3893 1500
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe	020 7894 7667
Sue Inglis
Fidante Capital	020 7832 0900
Robert Peel
Justin Zawoda-Martin
Macquarie Capital (Europe) Limited	020 3037 2000
Nick Stamp
Shore Capital	020 7408 4090
Bidhi Bhoma
Anita Ghanekar
MHP Communications	020 3128 8100
Andrew Leach
Ivana Petkova
Luke Briggs
Ipes (Guernsey) Limited	01481 713 843
Nick Robilliard

Notes to Editors:

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 £586m since its initial public offering on the main market of the London Stock Exchange in April 2014.  It also has credit facilities of £269.8m in place (£150m from a syndicate including MIDIS, NAB and CBA; MIDIS: £54.3m; Bayerische Landesbank: £43.8m; and NIBC: £21.7m).

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 1,300 utility-scale solar power plants with an installed capacity in excess of 1.8 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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