NextEnergy Solar Fund Limited Notice of Results (7729E)

TIDMNESF

RNS Number : 7729E

NextEnergy Solar Fund Limited

01 November 2022

LEI: 213800ZPHCBDDSQH5447

1 November 2022

NextEnergy Solar Fund Limited

("NESF" or the "Company")

Notice of Interim Results

NextEnergy Solar Fund, the specialist solar and energy storage climate impact fund with a combined installed power capacity of 865MW, will announce its Interim Results for the period ended 30 September 2022 on Monday, 21 November 2022.

An analyst presentation will be held at RBC's offices, 100 Bishopsgate, London, EC2N 4AA. To register to attend please contact Camarco on [e-mail] . The Company will also live stream the presentation via webcast for investors.

The presentation will be hosted by:

   --     Michael Bonte-Friedheim (CEO and Founder, NextEnergy Group, Investment Adviser) 
   --     Ross Grier (UK Managing Director, NextEnergy Capital, Investment Adviser) 

Presentation details and registration link:

   --     Time: 9:30am 
   --    Date: Monday 21 November 2022 
   --    Registration and Webcast link: https://www.lsegissuerservices.com/spark/NextEnergySolarFundLtd/events/ef9d1fc7-9e19-4990-9649-f9174a04dfad 

The presentation will be followed by a Q&A session for analysts. Investor questions can be submitted prior to the presentation via email to [e-mail]. NextEnergy Capital will endeavour to answer submitted questions during the Q&A section, if this is not possible due to time constraints, the investment adviser will follow up separately after the presentation.

A recording of the analyst presentation will also be made available on the Company's website shortly after the event.

 
 For further information: 
 
  NextEnergy Capital Group                        020 3746 0700 
  Michael Bonte-Friedheim                         [e-mail] 
 Aldo Beolchini 
 Ross Grier 
 Peter Hamid (Investor Relations) 
 
   RBC Capital Markets                            020 7653 4000 
 Matthew Coakes 
 Kathryn Deegan 
 Cenkos Securities                              020 7397 8900 
 James King 
 William Talkington 
 
   Camarco                                        020 3781 8334 
 Owen Roberts 
 Eddie Livingstone-Learmonth 
 
 
   Ocorian Administration (Guernsey) Limited      014 8174 2642 
 Kevin Smith 
 

Notes to Editors(1) :

About NextEnergy Solar Fund

NESF is a specialist solar and energy storage climate impact fund. The Company is structured as a renewable energy investment company listed on the premium segment of the London Stock Exchange that invests in utility-scale solar power plants and energy storage. The Company may invest up to 30% of its gross asset value in non-UK OECD countries, 15% in solar-focused private infrastructure funds, and 10% in energy storage.

NESF currently has a diversified portfolio comprising of the following:

Solar PV:

 
 --   100 operating solar assets across the UK and Italy (primarily on 
       agricultural, industrial, and commercial sites) 
 --   A 50MW co-investment into a Spanish solar project alongside NextPower 
       III ESG, currently under construction 
 --   A 210MW co-investment into a Portuguese solar project alongside 
       NextPower III ESG, currently under construction 
 --   A UK solar project under construction (Whitecross 36MW) 
 --   A ready-to-build UK solar project (Hatherden 50MW) 
 --   A $50m commitment into NextPower III ESG (a private solar infrastructure 
       fund providing exposure to both operating and under construction, 
       international solar assets) 
 

Energy Storage:

Joint Venture Partnership with Eelpower:

 
 --   A 50MW standalone battery storage project in Fife, Scotland, 
       currently under construction (part of a GBP300m joint venture 
       with Eelpower) 
 --   -- A portfolio of 250MW pre-construction standalone battery 
       storage projects in the East of England 
 

Co-located programme:

 
 --   First site identified for a 6MW co-located battery storage 
       project at North Norfolk Solar Farm 
 

The NESF portfolio has a combined installed power capacity of 865MW (excluding NextPower III MW on an equivalent look-through basis).

As at 30 June 2022, the Company had an unaudited gross asset value of GBP1,198m, being the aggregate of the net asset value of the ordinary shares, the fair value of the preference shares and the amount of NESF Group debt outstanding, and an unaudited net asset value of GBP717.2m.

NESF's investment objective is to provide ordinary shareholders with attractive risk-adjusted returns, principally in the form of regular dividends, by investing in a diversified portfolio of solar energy and energy storage infrastructure assets. The majority of NESF's long-term cash flows are inflation-linked via UK government subsidies.

For further information on NESF please visit www. nextenergysolarfund.com

Commitment to ESG

NESF is committed to ESG principles and responsible investment which make a meaningful contribution to reducing CO2 emissions through the generation of clean solar power. NESF will only select investments that meet the requirements of NEC Group's Sustainable Investment Policy. Based on this policy, NESF benefits from NEC's rigorous ESG due diligence on each investment. NESF is committed to reporting on its ESG performance in accordance with the UN Sustainable Development Goals framework and the EU Sustainable Finance Disclosure Regulation.

NESF has been awarded the London Stock Exchange's Green Economy Mark and has been designated a Guernsey Green Fund by the Guernsey Financial Services Commission.

Article 9

NESF is classified under Article 9 of the EU Sustainable Finance Disclosure Regulation and EU Taxonomy Regulation.

NESF's sustainability-related disclosures in the financial services sector in accordance with Regulation (EU) 2019/2088 can be accessed on the ESG section of both the NESF website ( nextenergysolarfund.com/esg/ ) & NEC Group website ( nextenergycapital.com/sustainability/transparency-and-reporting/ ).

About NextEnergy Group

NESF is managed by NextEnergy Capital, part of the NextEnergy Group. NextEnergy Group was founded in 2007 to become a leading market participant in the international solar sector. Since its inception, it has been active in the development, construction, and ownership of solar assets across multiple jurisdictions. NextEnergy Group operates via its three business units: NextEnergy Capital (Investment Management), WiseEnergy (Operating Asset Management) and Starlight (Asset Development).

NextEnergy Capital

NextEnergy Capital comprises the Group's investment management activities. To date, NEC has invested in over 350 individual solar plants for a capacity in excess of 2.4GW across it institutional funds. www.nextenergycapital.com

 
 --   NextEnergy Solar Fund ("NESF") is a solar infrastructure investment 
       company focused on the UK and other OECD countries, which is listed 
       on the premium segment of the London Stock Exchange. It currently 
       owns 865MW spread among 100 individual operating assets in the 
       UK and Italy, comprising an unaudited gross asset value of GBP1,198m. 
       NESF is one of the largest listed solar energy investment companies 
       in the world. 
 --   NextPower II ("NPII") a private fund made up of 105 individual 
       operating solar power plants and an installed capacity of 149MW, 
       focused on consolidating the substantial, highly fragmented Italian 
       solar market. NPII was successfully divested in January 2022, a 
       2016 vintage vehicle that generated net IRRs in excess of its gross 
       target of 10-12%. 
 --   NextPower III ESG ("NPIII") is a private fund exclusively focused 
       on the international solar infrastructure sector, principally targeting 
       projects in carefully selected OECD countries, including the US, 
       Portugal, Spain, Chile, Poland and Italy. NPIII is a fund that 
       provides a positive social and environmental impact to the countries 
       it has and will invest into. NPIII completed its fundraise with 
       a total of $896m, including an SMA raised. The target of the fund 
       was $750m. 
 --   NextPower UK ESG ("NPUK") is a private unlevered fund investing 
       in greenfield subsidy-free solar projects, with PPA's, in the UK. 
       NPUK ESG recently announced its first close at GBP327 million, 
       which is over 65% of the funds target of GBP500 million. The UK 
       Infrastructure Bank is the cornerstone investor for the fund and 
       plans to invest up to GBP250 million on a match funding basis. 
 

WiseEnergy

WiseEnergy(R) is NextEnergy Capital Group's operating asset manager. WiseEnergy is a leading specialist operating asset manager in the solar sector. Since its founding, WiseEnergy has provided solar asset management, monitoring and technical due diligence services to over 1,350 utility-scale solar power plants with an installed capacity in excess of 1.8GW. WiseEnergy clients comprise leading banks and equity financiers in the energy and infrastructure sector.

www.wise-energy.com

Starlight

Starlight is NextEnergy Group's development company that is active in the development phase of solar projects. It has developed over 100 utility-scale projects internationally and continues to progress a large pipeline of c.10GW of both green and brownfield project developments across global geographies.

Notes:

(1:) All financial data is unaudited at 30 June 2022, being the latest date in respect of which NESF has published financial information

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November 01, 2022 03:00 ET (07:00 GMT)