NextEnergy SolFnd Ld

Acquisition

RNS Number : 3216S
NextEnergy Solar Fund Limited
25 June 2018
 

25 June 2018

 

NextEnergy Solar Fund Limited

("NESF" or the "Company")

 

Acquisition of ten operating solar plants in the UK with total installed capacity of 46.6MWp

·     Share purchase agreement signed to acquire a portfolio ("Portfolio") of ten operating solar plants totalling 46.6MWp located in the UK for a total investment value of £52.9m

·     All sites have been constructed and all connected to the grid prior to March 2017

·     The acquisition increases NESF's portfolio to 75 assets with a total capacity of 622.7 MWp and total investment value of £792.4m

NESF, a specialist investment company that invests primarily in UK solar power plants, is pleased to announce the signing and completion of a share purchase agreement for the acquisition of ten operating solar plants with a total installed capacity of 46.6 MWp. The plants were acquired from a single counterparty, from which the Company has previously acquired five solar power plants.

All ten assets were connected during 2016 and 2017, with subsidies including both renewable obligations certificates ("ROC") and feed-in-tariffs ("FiT").

The Portfolio comprises:

·     Fiskerton (13.0 MWp, Lincolnshire)

·     Thornborough Grounds (5.0 MWp, Buckinghamshire)

·     Sywell (5.0 MWp, Northamptonshire)

·     Temple Normanton (4.9 MWp, Derbyshire)

·     Brafield (4.9 MWp, Northamptonshire)

·     Balhearty (4.8 MWp, Clackmannanshire)

·     Little Irchester (4.7 MWp, Northamptonshire)

·     Coton Park (2.5 MWp, Derbyshire)

·     Huddlesford House (0.9 MWp, Staffordshire)

·     Huddlesford Park Lane (0.9 MWp, Staffordshire)

 

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

For further information:

NextEnergy Capital Limited

020 3746 0700

Michael Bonte-Friedheim

 

Aldo Beolchini

 


 

Cantor Fitzgerald Europe

020 7894 7667

Sue Inglis

Robert Peel

 


 

Fidante Partners Europe Limited

020 7832 0900

Tom Skinner

Justin Zawoda-Martin



 

Shore Capital

020 7408 4090

Anita Ghanekar




Macquarie Capital (Europe) Limited

020 3037 2000

Nick Stamp




MHP Communications

020 3128 8100

Oliver Hughes

 

Ipes (Guernsey) Limited  

01481 713 843

Nick Robilliard


Notes to Editors:

NESF is a specialist investment company that invests primarily in operating solar power plants in the UK. It has the authority to invest up to 15% of its Gross Asset Value in operating solar power plants in OECD countries outside the UK. The Company's 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 £592m since its initial public offering on the main market of the London Stock Exchange in April 2014. It also has credit facilities of £270m in place (£149m from a syndicate including MIDIS, NAB and CBA; MIDIS: £54m; ING £34m; and UniCredit £33m).

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 and over the course of its activities has provided operating asset management, monitoring, technical due diligence and other services to over 1,300 utility-scale solar power plants with an installed capacity in excess of 1.9 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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