NextEnergy Solar Fund Limited Acquisition of Two Operating Solar Plants (5956P)
30 May 2018 - 4:00PM
UK Regulatory
TIDMNESF
RNS Number : 5956P
NextEnergy Solar Fund Limited
30 May 2018
30 May 2018
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Acquisition of Two Operating Solar Plants in the UK with
Integrated Energy Storage
-- Acquisition of two operating solar plants (Salcey Farm and
Pierces Farm) with a total capacity of 7.2MWp
-- Both sites have integrated energy storage capabilities with a combined capacity of c.1MW
-- Total investment value of GBP9.3m
NESF, a specialist investment company that invests primarily in
UK solar power plants, is pleased to announce the acquisition of
its first operating solar plants with integrated electricity
storage capabilities.
The two plants, located in Berkshire and Buckinghamshire, are
accredited under 1.4ROC and FiT regimes respectively. Each site has
a battery energy storage system ("BESS") comprising a lithium-ion
battery pack integrated with switchgear and transformers capable of
providing frequency response and grid balancing services.
The transaction represents NESF's first entry into integrating
operating solar plants with BESS. The Company expects to continue
growing its exposure in this area as the opportunity increases in
scale and scope. Its distributed portfolio of 55 sites spread
across England constitutes a very attractive opportunity to deploy
value-enhancing technologies such as BESS in the future.
NESF continues to pursue further transactions from its pipeline
of acquisition opportunities and expects to announce additional
investments in due course.
For further information:
NextEnergy Capital Limited 020 3893 1500
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Robert Peel
Fidante Partners Europe
Limited 020 7832 0900
Tom Skinner
Justin Zawoda-Martin
Shore Capital 020 7408 4090
Anita Ghanekar
Macquarie Capital (Europe)
Limited 020 3037 2000
Nick Stamp
MHP Communications 020 3128 8100
Oliver Hughes
Ipes (Guernsey) Limited 01481 713 843
Nick Robilliard
Notes to Editors:
NESF is a specialist investment company that invests primarily
in operating solar power plants in the UK. It has the authority to
invest up to 15% of its Gross Asset Value in operating solar power
plants in OECD countries outside the UK. The Company's 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 GBP592m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP270m in place
(GBP149m from a syndicate including MIDIS, NAB and CBA; MIDIS:
GBP54m; ING GBP34m; and UniCredit GBP33m).
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 and over the course of its activities has been providing
operating asset management, monitoring, technical due diligence and
other services to over 1, 300 utility-scale solar power plants with
an installed capacity in excess of 1.9 GW.
Further information on NESF, NEC Group and WiseEnergy is
available at www.nextenergysolarfund.com, www.nextenergycapital.com
and www.wise-energy.eu.
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contact rns@lseg.com or visit www.rns.com.
END
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