NextEnergy Solar Fund Limited Acquisition (9859W)
07 August 2018 - 4:00PM
UK Regulatory
TIDMNESF
RNS Number : 9859W
NextEnergy Solar Fund Limited
07 August 2018
7 August 2018
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Acquisition of 282 rooftop solar assets in the UK with a total
installed capacity of 1.15MW
-- Share purchase agreement signed to acquire two portfolios of
rooftop solar assets across the UK, with an installed capacity of
1.15MW for a total investment value of GBP3.6m
-- The two portfolios consist of 282 assets, of which seven are
commercial rooftop and the rest residential rooftops
-- NESF's second rooftop portfolio acquisition
NESF, a specialist investment company that invests primarily in
UK solar power plants, is pleased to announce the signing and
completion of a share purchase agreement for the acquisition of two
portfolios of operating rooftop solar consisting of 282 assets, an
overall installed capacity of 1.15MW. The first portfolio consists
of 63 rooftop solar assets, of which 7 are commercial and the
remaining residential, and the second portfolio consists of 219
residential rooftop assets.
All 282 rooftop assets were connected to grid between 2011 and
2012 and receive feed-in-tariff subsidies and an export tariff. The
average size of the residential installations is 2kW.
The acquisition increases NESF's operating portfolio to 87
assets with a total capacity of 691MW and total investment value of
GBP894m.
For further information:
NextEnergy Capital Limited 020 3746 0700
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
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 outstanding of c.GBP365m
in place (GBP149m from a syndicate including MIDIS, NAB and CBA;
MIDIS: GBP54m; ING GBP32m; UniCredit GBP32m; Santander GBP40m; and
Bayerische Landesbank GBP58m).
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 provided
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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