NextEnergy Solar Fund Limited Acquisition (3216S)
June 25 2018 - 1:00AM
UK Regulatory
TIDMNESF
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 GBP52.9m
-- 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
GBP792.4m
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 GBP592m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP270m in place
(GBP149m from a syndicate including MIDIS, NAB and CBA; MIDIS:
GBP54m; ING GBP34m; and UniCredit GBP33m).
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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