NextEnergy Solar Fund Limited Acquisition (2205T)

TIDMNESF

RNS Number : 2205T

NextEnergy Solar Fund Limited

04 January 2017

4 January 2017

NextEnergy Solar Fund Limited (the "Company")

Acquisition of four plants totalling 20MWp for a combined investment value of GBP21m

-- Share purchase agreement exchanged to acquire Bowden, Stalbridge and Long Ash Lane solar plants of 5MWp each

   --          Separate share purchase agreement exchanged to acquire the 5MWp Mill Farm solar plant 
   --          Completion of all four acquisitions expected in the first half of 2017 

-- NESF has now secured 38 assets totalling 439 MWp with a total investment value of GBP506 million since its IPO in April 2014

NESF is pleased to announce the signing of two separate share purchase agreements covering a portfolio of three plants totalling 15MWp and a single 5MWp plant.

The Bowden (5MWp plant located in Somerset), Stalbridge (5MWp plant located in Dorset) and Long Ash Lane (5MWp plant located in Dorset) plants are all under construction and are expected to be connected to the grid in advance of the 31 March 2017 deadline to receive accreditation under the 1.2 Renewable Obligation Certificate ("ROC") regime. Acquisition of the plants will be completed following full construction and grid connection.

NESF has also signed the share purchase agreement to acquire the Mill Farm solar plant. The 5MWp plant, located in Hertfordshire, is currently nearing the end of construction and is expected to be accredited under the 1.2 ROC regime. Completion of the acquisition will occur following grid connection of the plant.

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 
  Rebecca Emery 
 

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 GBP140.2m in place (Macquarie and Santander: GBP20m, all undrawn; 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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January 04, 2017 02:00 ET (07:00 GMT)