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NextEnergy SolFnd Ld (NESF)

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Wednesday 04 January, 2017

NextEnergy SolFnd Ld

Acquisition

RNS Number : 2205T
NextEnergy Solar Fund Limited
04 January 2017
 

4 January 2017

NextEnergy Solar Fund Limited (the "Company")

Acquisition of four plants totalling 20MWp for a combined investment value of £21m

·          Share purchase agreement exchanged to acquire Bowden, Stalbridge and Long Ash Lane solar plants of 5MWp each

·          Separate share purchase agreement exchanged to acquire the 5MWp Mill Farm solar plant

·          Completion of all four acquisitions expected in the first half of 2017

·          NESF has now secured 38 assets totalling 439 MWp with a total investment value of £506 million since its IPO in April 2014

NESF is pleased to announce the signing of two separate share purchase agreements covering a portfolio of three plants totalling 15MWp and a single 5MWp plant.

The Bowden (5MWp plant located in Somerset), Stalbridge (5MWp plant located in Dorset) and Long Ash Lane (5MWp plant located in Dorset) plants are all under construction and are expected to be connected to the grid in advance of the 31 March 2017 deadline to receive accreditation under the 1.2 Renewable Obligation Certificate ("ROC") regime.  Acquisition of the plants will be completed following full construction and grid connection. 

NESF has also signed the share purchase agreement to acquire the Mill Farm solar plant.  The 5MWp plant, located in Hertfordshire, is currently nearing the end of construction and is expected to be accredited under the 1.2 ROC regime.  Completion of the acquisition will occur following grid connection of the plant.

 

For further information:

NextEnergy Capital Limited

020 3239 9054

Michael Bonte-Friedheim

 

Aldo Beolchini

 

 

 

Cantor Fitzgerald Europe

020 7894 7667

Sue Inglis

 

 

 

Fidante Capital

020 7832 0900

Robert Peel

Justin Zawoda-Martin

 

 

 

Shore Capital

020 7408 4090

Bidhi Bhoma

 

Anita Ghanekar

 

 

 

Macquarie Capital (Europe) Limited

020 3037 2000

Nick Stamp

 

 

 

MHP Communications

020 3128 8100

Andrew Leach

Jamie Ricketts

Rebecca Emery

 

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 £465m since its initial public offering on the main market of the London Stock Exchange in April 2014.  It also has credit facilities of £140.2m in place (Macquarie and Santander: £20m, all undrawn; MIDIS: £54.7m; 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 1,250 utility-scale solar power plants with an installed capacity in excess of 1.7 GW.

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


This information is provided by RNS
The company news service from the London Stock Exchange
 
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