Nextenergy Solar Share Discussion Threads

[gateside] 14/10/2023 07:33

The forecast dividend of 8.35p gives a 10.5% yield now.

[ikw] 25/9/2023 16:12

€1.7 billion for new solar plants.The European Investment Bank (EIB) has approved financing of up to €1.7 billion for the construction of around 120 photovoltaic plants located in Spain, Italy and Portugal.

[gbcol] 14/9/2023 08:00

So you could take the scrip divi at 109.3p equivalent or take the divi cash and buy shares in the market yourself at circa 85p.

Am I missing something or are those that opted for the 341,000 scrip shares?

I guess the more that opt for the scrip, the better it is for those that don’t.

[gateside] 13/9/2023 20:26

Getting near 10% yield Let hope interest rates soon start decreasing, as that should help the share price moving back up

[scrwal] 06/9/2023 14:08

A lot of its peers now have decent yields as prices have dropped.

[gateside] 06/9/2023 09:04

Yield now 9.7%

[marktime1231] 17/8/2023 11:59

A quadruple whammy today, not just ex-div and a 5p slice off NAV due to discount rate adjustment etc.

NESF's first JV project with Eelpower the standalone 50MW BESS "Camilla" in Fife has missed its 23Q2 energise target -- actually the lead contractor has gone bust, something you would have thought had been observed before now. The impact is a loss of over £0.5M revenues this coming winter because the project has slipped in to 2024. Perhaps Eelpower would like to share that pain? No attention drawn to any impact on other Eelpower JV projects, but NESF point out the whole industry supply chain is under stress. And why are NESF investing in standalone BESS instead of coupling storage with existing connected solar farms?

Also, NESF admits it has zero progress to report on its fanfared "capital recycling" programme to cut net debt, gearing is at 46%.

No wonder this has slipped to a 20% discount and pretty much an all-time-low share price

The promise that income will continue to cover the progressive dividend by a comfortable margin will no doubt keep income-hungry investors on board but NESF is an (another) ugly red line in my portfolio.

[tag57] 17/8/2023 11:34

I haven’t compared but assume it relates to the discount rates / inflation numbers etc that they use to discount forward cash flow.

[orinocor] 17/8/2023 10:59

why was bsif's NAV up over the same quarter

[tag57] 17/8/2023 10:44

Ex div combined with NAV reduction is hitting the share price today. I still believe that NESF is a good long term income investment but the capital loss is starting to hurt, although no different to a lot of my other income investments at the moment

[tonytyke2] 17/8/2023 10:10

Ex-Div date today.

[petewy] 17/8/2023 09:47

Holding steady

[masurenguy] 17/8/2023 08:03

Unaudited Quarterly Net Asset Value and Operational Update

NextEnergy Solar Fund, the specialist solar+ fund, announces its unaudited Net Asset Value as at 30 June 2023, and its latest operational update.

Updates to NAV assumptions

The Company has made the following key updates to its valuation assumptions for the 30 June 2023 NAV calculation:

-- An increase to the unlevered discount rate of 0.75% in response to increases to short-term base interest rates, long-term risk-free rates and macro-economic outlook.

-- Updated inflation assumptions to reflect the latest available third-party inflation data from HM Treasury Forecasts and long-term implied rates from the Bank of England for its UK assets. For international assets, IMF forecasts are used.

-- Updated power price forecasts capturing the latest available third-party advisor long-term power curves.

The updated NAV assumptions are disclosed in the relevant sections below.

Key Highlights:

Financial:

-- Net Asset Value ("NAV") per ordinary share of 109.3p (31 March 2023: 114.3p).
-- Ordinary shareholders' NAV of GBP645.1m (31 March 2023: GBP674.4m).
-- Total gearing (including preference shares) of 46% (31 March 2023: 45%).
-- Weighted average cost of capital of 6.2% (31 March 2023: 5.7%).
-- Weighted average discount rate of 8.0% (31 March 2023: 7.3%).

Dividend:

-- First interim dividend of 2.08p per ordinary share for the quarter ended 30 June 2023 (30 June 2022: 1.88p).

-- Target dividend of 8.35p per ordinary share for the year ended 31 March 2024 (a year-on-year increase of 11%).

-- Forecasted target dividend cover of c.1.3x - 1.5x for the financial year ending 31 March 2024.

Portfolio:

-- Portfolio generation outperformance of +3.9% against budget for three months ended 30 June 2023 (30 June 2022: 4.5%).

-- 99 operating solar assets (31 March 2023: 99).
-- Total installed capacity of 890M W(1) (31 March 2023: 889MW(1) ).
-- Remaining weighted average useful life of 26.1 years (31 March 2023: 26.3 years).
-- Post period, Whitecross, a 36MW solar farm located in Lincolnshire was energised.

[fordtin] 10/8/2023 09:22

Neilyb - I rang the electricity board. They said "it has nothing to do with us!"

[neilyb675] 10/8/2023 09:05

I've written to my local MP about it. Hoping that it will be raised at the next available PMQs.

We deserve better.

[boadicea] 10/8/2023 09:02

Yes, I have also just noticed that some of the dates I copied above from the annual report are also impossible, such as payng on 31st Dec 2023 which is a Sunday! This is very sloppy.

[keyno] 10/8/2023 08:29

It's simple enough - you'd think!

[fordtin] 10/8/2023 07:50

looks like someone had a brain freeze when typing the dates;

"NextEnergy Solar Fund, the specialist solar+ fund is pleased to announce an interim dividend of 2.08 pence per Ordinary Share for the quarter ended 30 June 2023. The interim dividend of 2.08 pence will be paid on 29 September 2023 to shareholders on the register as at the close of business on 1 September 2023. The ex-dividend date is 18 August 2023. "

[tuftymatt] 07/8/2023 21:30

Thanks VAS007 👍🏻

[vas007] 04/8/2023 14:53

Tufty at this web pagehttps://www.dividendmax.com/united-kingdom/london-stock-exchange/investment-trusts/nextenergy-solar-fund-limited/dividends

[marktime1231] 03/8/2023 11:19

The dividend announcement must be imminent, but they already promised us in May an 11% increase to 8.35p for the year so 2.0875p if level.

I would like to hear about progress with the fanfared capital recycling proposal to reduce debt exposure which is surely what is dragging the share price down at the moment.

[tuftymatt] 03/8/2023 10:55

No I don't think it has been either according to what I look at which includes
hxxps://www.dividenddata.co.uk/ex-dividend-date-search.py?searchTerm=NESF