NextEnergy Solar Fund Limited Acquisition of three plants (2917E)
November 03 2015 - 1:00AM
UK Regulatory
TIDMNESF
RNS Number : 2917E
NextEnergy Solar Fund Limited
03 November 2015
03 November 2015
NextEnergy Solar Fund Limited ("NESF")
Acquisition of three plants with capacity of 18.0MWp and an
investment value of GBP18.1 million
- Share purchase agreement exchanged to acquire the 8.0MWp
Ellough Solar 2 which will be an extension of NESF's Ellough
plant
- Share purchase agreement exchanged to acquire the 4.99MWp Decoy
- Share purchase agreement exchanged to acquire the 4.99MWp Hall Farm
- NESF has now secured 24 assets totalling 271.1MWp and a total
investment value of GBP314.2 million
NESF is pleased to announce the signing of three share purchase
agreements for three separate projects with unrelated
counterparties, to acquire the special purpose vehicles owning
Ellough Solar 2, Decoy and Hall Farm.
Ellough Solar 2 is an 8.0MWp solar plant being built and is
expected to be connected ahead of 31 March 2016 with a view to
receiving 1.3 ROC support under the Significant Investment Grace
Period for large scale projects. The acquisition will be completed
once the site has been connected and 1.3 ROC accredited.
Decoy and Hall Farm are two 4.99MWp Feed-in-Tariff ("FiT")
pre-accredited projects being built and are expected to be
connected before the end of the year. The acquisitions will be
completed after they have been connected within their FiT
pre-accreditation window.
Since announcing its capital raise of GBP38.8 million on 24
September, NESF has announced the acquisition of six solar power
plants totalling 36.3MWp with an investment value of GBP40.2
million.
For further information:
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Macquarie Capital (Europe)
Limited 020 3037 2000
Ken Fleming
Nick Stamp
MHP Communications 020 3128 8100
Andrew Leach
Jamie Ricketts
Gina Bell
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 GBP285.4 since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities amounting to GBP54.2m in
place.
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 1,200 utility-scale solar power plants with an
installed capacity in excess of 1.5 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
END
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