NextEnergy Solar Fund Limited Net Asset Value(s), June 2017 (4997M)
31 July 2017 - 4:01PM
UK Regulatory
TIDMNESF
RNS Number : 4997M
NextEnergy Solar Fund Limited
31 July 2017
31 July 2017
NextEnergy Solar Fund Limited ("NESF", or the "Company")
Net Asset Value Update, Quarterly Dividend and Scrip Dividend
Alternative
-- NAV at 30 June 2017 of GBP591.5m (31 March 2017: GBP478.6m)
-- NAV per share of 103.5p (31 March 2017: 104.9p)
-- Paid dividend of 6.31p per share for year ending March 2017
(four interim dividends of 1.5775p per share paid quarterly)
-- Medium- and long-term power price forecasts marginally reduced to reflect market conditions
-- At 30 June 2017, the Company's portfolio comprised 48 plants
with an installed capacity of 483MWp (31 March 2017: 41 plants for
453.7MWp installed)
NESF, the specialist investment company that invests in
operating solar power plants in the UK, announces its Net Asset
Value ("NAV") at 30 June 2017.
The Company's NAV was GBP591.5m as at 30 June 2017, compared to
GBP478.1m at 31 March 2017. The increase in NAV results primarily
from the Company's successful fundraise of c.GBP126.5m in June
2017.
The NAV per share amounted to 103.5p as at 30 June 2017,
compared to 104.9p as at 31 March 2017. The decrease in NAV per
share was mainly due to the change in the fair value of investments
resulting from the decrease in the Company's independent market
consultants' medium- and long-term forecasts for power prices in
the UK. The dividend of 1.5775p per share paid on 30 June 2017 for
the quarter ended 31 March 2017 also affected the Company's
NAV.
NESF has posted the Company's updated factsheet on its website
today.
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
Ivana Petkova
Luke Briggs
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 GBP586m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP269.8m in place
(GBP150m from a syndicate including MIDIS, NAB and CBA; MIDIS:
GBP54.3m; 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 1,300 utility-scale solar power plants with an
installed capacity in excess of 1.8 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
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