![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Nextenergy Solar Fund Limited | LSE:NESF | London | Ordinary Share | GG00BJ0JVY01 | RED ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 82.70 | 82.10 | 82.90 | 129,929 | 08:01:44 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 66.03M | 48.32M | 0.0818 | 10.11 | 488.61M |
TIDMNESF
RNS Number : 6028U
NextEnergy Solar Fund Limited
25 November 2019
25 November 2019
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Targeted Charging Review and NAV Update
On 21 November 2019, after a year of consultation, the Office of Gas and Electricity Markets ("OFGEM") published its Targeted Charging Review ("TCR") document, detailing changes to the embedded benefits regime:
-- OFGEM's partial reform does not go as far as to impose a charge, instead it reduces the variable payments that NESF receives on certain connection voltages in certain locations
If NESF takes a prudent approach and assumes no embedded benefits for the Balancing Services Use of System ("BSUoS") from April 2021 onwards, the Company's Investment Adviser ("IA"), NextEnergy Capital Limited, expects the impact on the Company's net asset value ("NAV") per ordinary share, to be in the region of -1.4p per ordinary share, in line with the estimate provided in the IA report section of the Interim Results. Assuming all else remains unchanged since 30 September 2019, the position today would be as follows:
-- Ordinary shareholders' NAV of GBP641m (30 September 2019: GBP649m) -- NAV per ordinary share of 109.8p (30 September 2019: 111.2p) -- Gross asset value of GBP1,052m (30 September 2019: GBP1,060m)
NESF's dividend policy remains unchanged, with a target of 6.87p per ordinary share for the year ending 31 March 2020. Payment of the second interim dividend of 1.7175p per ordinary share will take place, as planned, on 31 December 2019.
For further information:
020 3746 NextEnergy Capital Limited 0700 Michael Bonte-Friedheim Aldo Beolchini 020 7894 Cantor Fitzgerald Europe 7719 Robert Peel 020 7408 Shore Capital 4090 Anita Ghanekar 020 3128 MHP Communications 8100 Oliver Hughes Apex Fund and Corporate Services (Guernsey) Limited 01481 735 827 Nicholas Robilliard
Notes to Editors:
NESF is a specialist investment company that invests primarily in operating solar power plants in the UK. It is able to invest up to 15% of its Gross Asset Value in operating solar power plants in OECD countries outside the UK. The Company's 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.
As at 30 September 2019, NESF raised equity proceeds of GBP792m (including GBP200m of preference shares) since its initial public offering on the main market of the London Stock Exchange in April 2014. The Company's subsidiaries had financial debt outstanding of GBP211m, on a look-through basis including project level debt. Of the financial debt, GBP197m was long-term fully amortising debt, and GBP14m was drawn under a short-term credit facility.
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 and over the course of its activities has provided operating asset management, monitoring, technical due diligence and other services to over 1,300 utility-scale solar power plants with an installed capacity in excess of 1.9 GW.
Further information on NESF, NEC Group and WiseEnergy is available at nextenergysolarfund.com, nextenergycapital.com and wise-energy.eu.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
NAVBABRTMBITBRL
(END) Dow Jones Newswires
November 25, 2019 12:55 ET (17:55 GMT)
1 Year Nextenergy Solar Chart |
1 Month Nextenergy Solar Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions