NextEnergy Solar Fund Limited Acquisition (2205T)
04 January 2017 - 6:00PM
UK Regulatory
TIDMNESF
RNS Number : 2205T
NextEnergy Solar Fund Limited
04 January 2017
4 January 2017
NextEnergy Solar Fund Limited (the "Company")
Acquisition of four plants totalling 20MWp for a combined
investment value of GBP21m
-- Share purchase agreement exchanged to acquire Bowden,
Stalbridge and Long Ash Lane solar plants of 5MWp each
-- Separate share purchase agreement exchanged to acquire the 5MWp Mill Farm solar plant
-- Completion of all four acquisitions expected in the first half of 2017
-- NESF has now secured 38 assets totalling 439 MWp with a total
investment value of GBP506 million since its IPO in April 2014
NESF is pleased to announce the signing of two separate share
purchase agreements covering a portfolio of three plants totalling
15MWp and a single 5MWp plant.
The Bowden (5MWp plant located in Somerset), Stalbridge (5MWp
plant located in Dorset) and Long Ash Lane (5MWp plant located in
Dorset) plants are all under construction and are expected to be
connected to the grid in advance of the 31 March 2017 deadline to
receive accreditation under the 1.2 Renewable Obligation
Certificate ("ROC") regime. Acquisition of the plants will be
completed following full construction and grid connection.
NESF has also signed the share purchase agreement to acquire the
Mill Farm solar plant. The 5MWp plant, located in Hertfordshire, is
currently nearing the end of construction and is expected to be
accredited under the 1.2 ROC regime. Completion of the acquisition
will occur following grid connection of the plant.
For further information:
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Fidante Capital 020 7832 0900
Robert Peel
Justin Zawoda-Martin
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Macquarie Capital (Europe)
Limited 020 3037 2000
Nick Stamp
MHP Communications 020 3128 8100
Andrew Leach
Jamie Ricketts
Rebecca Emery
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 GBP465m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP140.2m in place
(Macquarie and Santander: GBP20m, all undrawn; MIDIS: GBP54.7m;
Bayerische Landesbank: GBP43.8m; and NIBC: GBP21.7m).
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 1,250 utility-scale solar power plants with an
installed capacity in excess of 1.7 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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