NextEnergy Solar Fund Limited Acquisition (9296C)

TIDMNESF

RNS Number : 9296C

NextEnergy Solar Fund Limited

21 April 2017

21 April 2017

NextEnergy Solar Fund Limited ("NESF", or the "Company")

Acquisition of six plants totalling 28MWp with an investment value of GBP30.5m

-- NESF has now secured 44 assets totalling 467MWp with an aggregate investment value of GBP536m

   --     Share purchase agreements exchanged to acquire: 

o 4.99MWp Aller Court and 4.99MWp Rampisham solar plants from one counterparty

o 4.99MWp Hill and 3.00MWp Forest Farm solar plants from a second counterparty

o 4.99MWp Wasing and 4.99MWp Flixborough solar plants from a third counterparty

   --     Completion expected during the first half of 2017 

NESF is pleased to announce the signing of six share purchase agreements for six separate projects, with three unrelated counterparties, to acquire the special purpose vehicles owning Rampisham, Aller Court, Hill, Forest Farm, Wasing and Flixborough solar plants. The plants are located in Dorset, Somerset, Oxfordshire, Hampshire, Berkshire and South Humberside respectively.

All six plants were successfully connected in advance of the 31 March 2017 deadline for 1.2 Renewable Obligation Certificates ("ROC") assets and, therefore, are expected to receive appropriate ROC accreditation in advance of NESF completing their respective acquisitions.

NESF continues to pursue further transactions from its pipeline of acquisition opportunities and expects to announce further investments in due course.

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 
 
 

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 GBP270.2m in place (GBP150m from a syndicate including MIDIS, NAB and CBA; 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

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April 21, 2017 02:00 ET (06:00 GMT)