NextEnergy Solar Fund Limited Two new projects announced (2254H)
12 March 2015 - 6:01PM
UK Regulatory
TIDMNESF
RNS Number : 2254H
NextEnergy Solar Fund Limited
12 March 2015
12 March 2015
NextEnergy Solar Fund Limited ("NESF")
Two new projects announced
Agreements signed to acquire a solar power plant of 21.2MWp and
to undertake Bilsham Phase Two comprising 2.6MWp
- Share purchase agreement signed to acquire 21.2MWp Langenhoe
solar power plant ("Langenhoe") for up to GBP22.9 million
- Langenhoe connected to grid on 4 March, 2015
- Development services agreement ("DSA") signed to build 2.6MWp
Phase Two of Bilsham solar power plant ("Bilsham") for up to GBP3.2
million
- NESF has now secured thirteen assets for a total of c.
148.3MWp and total investment value of c. GBP171.7 million (c. 70%
of equity proceeds raised to date)
NESF is pleased to announce the signing of the share purchase
agreement ("SPA") to acquire a special purpose vehicle ("SPV")
owning Langenhoe. The plant is being constructed under an
Engineering, Procurement and Construction contract ("EPC")
negotiated by NESF's investment adviser, NextEnergy Capital
Limited. Langenhoe was connected to the grid on 4 March 2015.
Langenhoe is located in Essex, and will be accredited under the
1.4 Renewable Obligation Certificate ("ROC") regime. The SPV will
be acquired by NESF upon achievement of the preliminary acceptance
certificate ("PAC"), which is expected to be issued during March
2015.
NESF is also pleased to announce the signing of the DSA to
undertake the construction of Bilsham Phase Two, amounting to a
2.6MWp extension to the existing plant located in Sussex. Phase
One, comprising 12.7MWp, was grid-connected in November 2014 and
its acquisition was completed in January 2015.
Bilsham Phase Two is to be accredited under the 1.4 ROC regime.
NESF has structured the DSA to accept the plant from the contractor
only in the event Bilsham Phase Two is grid connected in full ahead
of 31 March 2015.
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
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 more than GBP245m since its
initial public offering on the main market of the London Stock
Exchange in April 2014. It also has a two-year revolving credit
facility of GBP31.5m in place. More than 70% of equity proceeds are
currently invested in thirteen operating solar assets.
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 1,000 utility-scale solar power plants with an
installed capacity in excess of 1 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
ACQDDGDXLDBBGUB
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