NextEnergy Solar Fund Limited Acquisition (2599K)
23 June 2014 - 7:48PM
UK Regulatory
TIDMNESF
RNS Number : 2599K
NextEnergy Solar Fund Limited
23 June 2014
23 June 2014
NextEnergy Solar Fund Limited ("NESF")
Agreement to acquire 9.4MWp solar power plant
- Share purchase agreement signed to acquire 9.4MWp Gover Farm solar power plant
- Total acquisition value of up to GBP10.5 million
- Purchase conditional on issuance of preliminary acceptance certificate ("PAC")
- PAC to be achieved by August 2014
- Commitment accounts for c. 12% of NESF's IPO proceeds
- Total of c. 30% of IPO proceeds now allocated across three assets for a total of c. 22MWp
NESF is pleased to announce the signing of the share purchase
agreement ("SPA") to acquire a special purpose vehicle ("SPV")
owning the rights to construct a solar power plant. The plant is
Gover Farm Power Plant ("Gover Farm"), located in Cornwall.
Gover Farm will be constructed under an Engineering, Procurement
and Construction contract ("EPC") negotiated by NESF. Under the
terms of the EPC, the plan is to achieve PAC by August 2014. The
plant will be accredited under the 1.4 Renewable Obligation
Certificate regime. NESF has committed to acquire the SPV, subject
to certain timing and performance criteria being achieved, for a
total consideration of up to GBP10.5 million.
The plant was identified in NESF's Prospectus as a 'core
shortlist' asset, and will be acquired on a full-equity basis. The
capital committed to the acquisition amounts to c. 12% of proceeds
raised in NESF's IPO.
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Gareth Price
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
MHP Communications 020 3128 8100
Rupert Trefgarne
Jamie Ricketts
Notes to Editors:
NextEnergy Solar Fund
NextEnergy Solar Fund (www.nextenergysolarfund.com) is a
specialist investment fund focused on operational solar
photovoltaic ("PV") assets located in the UK. The Company intends
to provide investors with a sustainable and attractive dividend
that increases in line with RPI over the long term and an element
of capital growth through the re-investment of net cash generated
in excess of the target dividend.
Further information on NextEnergy Capital and WiseEnergy is
available at www.nextenergycapital.com and www.wise-energy.eu.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQUOSKRSNANURR
Nextenergy Solar (LSE:NESF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nextenergy Solar (LSE:NESF)
Historical Stock Chart
From Jul 2023 to Jul 2024