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NextEnergy SolFnd Ld (NESF)

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Friday 21 April, 2017

NextEnergy SolFnd Ld

Acquisition

RNS Number : 9296C
NextEnergy Solar Fund Limited
21 April 2017
 

21 April 2017

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

Acquisition of six plants totalling 28MWp with an investment value of £30.5m

·     NESF has now secured 44 assets totalling 467MWp with an aggregate investment value of £536m

·     Share purchase agreements exchanged to acquire:

4.99MWp Aller Court and 4.99MWp Rampisham solar plants from one counterparty

4.99MWp Hill and 3.00MWp Forest Farm solar plants from a second counterparty

4.99MWp Wasing and 4.99MWp Flixborough solar plants from a third counterparty

·     Completion expected during the first half of 2017

NESF is pleased to announce the signing of six share purchase agreements for six separate projects, with three unrelated counterparties, to acquire the special purpose vehicles owning Rampisham, Aller Court, Hill, Forest Farm, Wasing and Flixborough solar plants.  The plants are located in Dorset, Somerset, Oxfordshire, Hampshire, Berkshire and South Humberside respectively.

All six plants were successfully connected in advance of the 31 March 2017 deadline for 1.2 Renewable Obligation Certificates ("ROC") assets and, therefore, are expected to receive appropriate ROC accreditation in advance of NESF completing their respective acquisitions.

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

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




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 £270.2m in place (£150m from a syndicate including MIDIS, NAB and CBA; 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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