NextEnergy Solar Fund Limited Scrip Reference Price (0897A)

TIDMNESF

RNS Number : 0897A

NextEnergy Solar Fund Limited

27 May 2021

LEI: 213800ZPHCBDDSQH5447

27 May 2021

NextEnergy Solar Fund Limited

("NESF" or the "Company")

Scrip Reference Price

NextEnergy Solar Fund, the solar power renewable energy investment company providing shareholders with an attractive risk-adjusted return from a diversified portfolio of primarily UK-based assets, is pleased to announce the reference price of a new Ordinary Share under the scrip dividend alternative for the interim dividend for the quarter ended 31 March 2021 which has been set at 100.88 pence. This is the average of the middle market prices of the Company's shares derived from the London Stock Exchange Daily Official List for the ex-dividend date and the four subsequent dealing days. The final date for receiving elections on the scrip is 4 June 2021.

The process for electing to receive Scrip Shares or making changes to an existing Scrip Dividend Mandate is detailed in the Scrip Circular dated 19 August 2020.

If you wish to receive this interim dividend in cash on the whole of your holding, and do not have a Scrip Dividend Mandate in place, you do not need to take any further action.

If you already have a Scrip Dividend Mandate in place and you wish to continue to receive Scrip Shares, you do not need to take any further action.

The Scrip Circular dated 19 August 2020 can be viewed and/or downloaded from the Investor Relations part of the NESF website (nextenergysolarfund.com). Copies of these documents can also be obtained from the Company Secretary.

For further information:

 
 NextEnergy Capital Group                       020 3746 0700 
 Michael Bonte-Friedheim                        [e-mail] 
 Aldo Beolchini 
  Ross Grier 
  Peter Hamid (Investor Relations) 
 
 Cenkos Securities                              020 7397 8900 
 James King 
  William Talkington 
 
 Shore Capital                                  020 7408 4090 
 Anita Ghanekar 
  Sarah Mather 
 
 
 Camarco                                        020 3781 8334 
 Owen Roberts 
  Eddie Livingstone-Learmonth 
 
 Apex Fund and Corporate Services (Guernsey) 
  Limited                                       01481 735 827 
 Nick Robilliard 
 

Notes to Editors(1) :

About NextEnergy Solar Fund

NextEnergy Solar Fund is a renewable energy infrastructure investment company that currently owns operating solar power plants in the UK and Italy. The Company may invest internationally up to 30% of its gross asset value in non-UK OECD countries, 15% in private equity structures, and 10% in standalone energy storage.

NESF currently has a diversified portfolio comprising 94 operating solar assets, primarily on agricultural, industrial, and commercial sites, with a combined installed power capacity of c.814MW.

As at 31 March 2021, the Company had gross assets of GBP1,025 million, of which 88% was invested in the UK, and net assets of GBP581 million. The majority of long-term cash flows from its investments are inflation-linked.

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 primarily UK-based solar energy infrastructure assets. The dividend is payable quarterly, and the Company has achieved its dividend target for the year ended 31 March 2021 of 7.05p per ordinary share.

For further information on NESF please visit 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.

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 Capital Group ("NEC Group")

NESF is managed by the NextEnergy Capital Group, a specialist solar investment manager, which has a strong track record in sourcing, acquiring, and managing operating solar assets. NEC Group is a leading player in the global solar investment sector and has over 190 team members with offices in UK, Italy, India, and USA and assets under management of over $2.5bn across three institutional funds.

NEC Group donates 5% of its net annual profits to NextEnergy Foundation. NextEnergy Foundation is an international charity that was founded in 2016. Its mission is to participate proactively in the global effort to reduce carbon emissions, provide clean power sources in regions where they are not yet available, and contribute to poverty alleviation.

For further information on NEC Group please visit nextenergycapital.com

For further information on NextEnergy Foundation visit nextenergyfoundation.org

About WiseEnergy

WiseEnergy is NEC Group's specialist operating asset management division. NESF is differentiated by its access to WiseEnergy, which has provided operating asset management, monitoring, technical due diligence, and other services to over 1,500 utility-scale solar power plants with an installed capacity in excess of 2.3GW.

For further information on Wise Energy please visit wise-energy.com

([1]) Note: All financial data is unaudited as at 31 March 2021, being the latest date in respect of which NESF has published financial information

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May 27, 2021 10:35 ET (14:35 GMT)