NextEnergy Solar Fund Limited Acquisition (4101A)
22 December 2014 - 6:00PM
UK Regulatory
TIDMNESF
RNS Number : 4101A
NextEnergy Solar Fund Limited
22 December 2014
22 December 2014
NextEnergy Solar Fund Limited ("NESF")
Agreement to acquire two solar power plants totalling 28.0
MWp
- Share purchase agreement signed to acquire the 20.0MWp Cock
Hill solar power plant ("Cock Hill") for up to GBP23.3 million
- Share purchase agreement signed to acquire 8.0MWp Llwyndu
solar power plant ("Llwyndu") for up to GBP9.4 million
- NESF has now secured ten assets for a total of c. 106 MWp for
a total investment value of c. GBP125 million (c. 69% of equity
proceeds raised to date)
NESF is pleased to announce the signing of two share purchase
agreements ("SPA") to acquire two special purpose vehicles,
respectively owning the Cock Hill and Llwyndu solar power plant
projects. Both plants will be constructed under separate
Engineering, Procurement and Construction contracts negotiated by
NESF's Investment Advisor, NextEnergy Capital Limited.
The Cock Hill plant is located in Wiltshire, and is to be
accredited under the 1.4 Renewable Obligation Certificate ("ROC")
regime. Construction of the plant has already begun, with internal
roads and civil works well advanced and c. 90% of mounting system
piles already installed.
The Llwyndu plant is located in Mid Wales, and is also to be
accredited under the 1.4 ROC regime. Construction on Llwyndu is
also underway, with the construction team having broken ground with
almost 40% of mounting system piles already installed.
Both plants are to be connected to the grid by March 2015. In
the event either plant does not achieve the expected ROC regime,
NESF has the right to terminate the respective SPA without
incurring any financial penalties.
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
MHP Communications 020 3128 8100
Jamie Ricketts
Gina Bell
Notes to Editors:
NextEnergy Solar Fund
NextEnergy Solar Fund (www.nextenergysolarfund.com) is a
specialist investment fund focused on operational solar
photovoltaic 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
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