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| 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 | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -0.10 | -0.13% | 75.30 | 100,963 | 09:10:04 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 75.20 | 75.60 | 75.30 | 75.20 | 75.20 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Investors, Nec | 66.03M | 48.32M | 0.0818 | 9.22 | 445.48M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 09:23:27 | O | 26 | 75.301 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 16/4/2024 | 09:32 | ALNC |  NextEnergy Solar leverage levels in line with company policy |
| 16/4/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited £135m Revolving Credit Facility Refinance |
| 11/4/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited Director Roles and Responsibilities |
| 22/3/2024 | 12:54 | UK RNS | NextEnergy Solar Fund Limited Holding(s) in Company |
| 19/3/2024 | 09:37 | ALNC | NextEnergy Solar's energy storage asset starts commercial operations |
| 19/3/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited 1GW Milestone and 50MW Energy Storage Asset.. |
| 15/3/2024 | 10:18 | ALNC | NextEnergy hails energisation of Portugal, Spain solar assets |
| 15/3/2024 | 07:00 | UK RNS | NextEnergy Solar Fund Limited 260MW International Solar Co-Investments.. |
| 11/3/2024 | 12:12 | UK RNS | NextEnergy Solar Fund Limited Update from QuotedData |
| 29/2/2024 | 16:03 | UK RNS | NextEnergy Solar Fund Limited Holding(s) in Company |
Nextenergy Solar (NESF) Share Charts1 Year Nextenergy Solar Chart |
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1 Month Nextenergy Solar Chart |
Intraday Nextenergy Solar Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 24/4/2024 | 12:02 | NextEnergy Solar Fund | 867 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 08:23:28 | 75.30 | 26 | 19.58 | O |
| 08:18:19 | 75.30 | 3,570 | 2,688.35 | O |
| 08:10:09 | 75.31 | 67 | 50.46 | O |
| 08:10:04 | 75.30 | 2,689 | 2,024.82 | AT |
| 08:10:04 | 75.30 | 3,202 | 2,411.11 | AT |
| Top Posts |
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Posted at 25/4/2024 09:20 by Nextenergy Solar Daily Update Nextenergy Solar Fund Limited is listed in the Investors, Nec sector of the London Stock Exchange with ticker NESF. The last closing price for Nextenergy Solar was 75.40p.Nextenergy Solar currently has 590,821,185 shares in issue. The market capitalisation of Nextenergy Solar is £445,479,173. Nextenergy Solar has a price to earnings ratio (PE ratio) of 9.22. This morning NESF shares opened at - |
Posted at 20/3/2024 09:50 by ghhghh RBC issued a note dated Feb 29th, Outperform with 110p PT.They say recent private market sales indicate a significant disconnect between private/public valuations and the 75p share price an attractive entry point. Sit on the 11% dividend and wait for the share price recovery driven by asset disposal process. I've recently started buying, attractive return in an ISA/pension fund. Does seem a falling knife though, like LABs which I've also been buying. |
Posted at 19/3/2024 11:58 by marktime1231 Assuming the continuation vote has arisen because the discount to NAV has been averaging above 10%. Actually the discount has been over 30% for a month now, and no amount of good news is moving the share price That Camilla is 6-9 months late has been pasted as good news. Not sure, only 1 hr duration is not where we need to be. The prospect of a sharp NAV correction, heavy debt and looming refinance at higher interest rates leading to dividend cut ... all very well moaning the low share price is unjustified but NESF have not come up with a convincing response. The "capital recycling" didn't attract external buyers. In which case a discontinuation is not a welcome prospect. If there is still comfortable surplus cash flow maybe they will try a buyback but they haven't because? But you shouldn't borrow to buyack your own shares should you. Finding it very hard to decide if NESF is stuck and it is time to move on or whether it is due a rebound and worth doubling down. An audited NAV and details of net debt and the dividend cover provided by current run-rate operating cash flow due early June I think. Can we rely on an unaudited NAV update, superficial operations update and final dividend announcement in early-mid May? Actually what will move things more than anything is the start of interest rate cuts to ease the pain of refinancing. |
Posted at 19/3/2024 08:24 by masurenguy Well £35.79 per/KW is a good fixed price that is consistent with the existing comparitively high priced forward contracts for the rest of the portfolio that the company has previously negotiated. At a shareprice of 73.5p the current yield is 11.3% and that is before any further increase in the dividend for fiscal 24/25 that should be announced when the year end results are released in June. Also, the shares are currently priced at a discount of circa 32% to NAV as at the end of last month.An update from QuotedData last week stated "NESF is on track to pay 8.35p in dividends, with forecast dividend cover of about 1.3x. Interest rates look to have peaked, which is improving sentiment but there is further to go. We find it hard to comprehend why any stock with a nine-year track record of growing covered dividends in line with inflation would not trade on a much lower dividend yield. NESF also has one of the largest capital recycling programmes of its peer group, which is aimed at freeing up cash to slash debt, fund share buybacks and existing and potential construction projects. Those projects should be both NAV and earnings enhancing. A re-rating of NESF's shares is overdue." |
Posted at 19/3/2024 07:17 by masurenguy 1GW Milestone and 50MW Energy Storage Asset Online>NextEnergy Solar Fund, a leading specialist investor in solar energy and energy storage, is pleased to announce that the Company's maiden standalone 50MW energy storage asset, named Camilla, has successfully begun commercial operations. This is a significant milestone for the Company as it increases NESF's total installed net capacity above 1GW to 1,014MW. Camilla connected to the National Grid in December 2023 and progressed successfully through its final phases of commissioning early this year. Camilla is a 50MW 1 hour lithium-ion battery located in Fife, Scotland, which has been pre-configured for augmentation to 2 hours. Camilla is the first asset to be delivered through the Company's £300m Joint Venture Partnership programme with Eelpower Limited. The Company is encouraged by the recent progress made by the National Grid as it continues to make improvements in the dispatching capability of batteries in the Balancing Mechanism and the introduction of additional reserve products. This is positive for new operating assets entering the market at this point, such as Camilla, as it represents additional revenue opportunities. On 20 February 2024 National Grid ESO published the provisional results of its T-1 Capacity Market Auction for delivery in 2024/25. Camilla successfully bid and secured a contract with a clearing price of £35.79/kW. The contract was secured with a derated capacity of 5.659MW and is expected to generate £202k (£4k/MW on a total capacity basis) of additional contracted revenue for the period 1 October 2024 through to the end of September 2025. The Company's disciplined approach to capital allocation focuses on accretive investment activity, consistent with the Company's investment objective of providing ordinary shareholders with attractive risk-adjusted returns, principally in the form of regular dividends. Michael Bonte-Friedheim, Founding Partner and CEO, NextEnergy Group, commented: "I'm delighted to confirm that Camilla's energisation increases NESF's total installed net capacity to over 1GW, alongside the recent energisation of NESF's first two international solar co-investments. Expanding into energy storage complements NESF's existing large portfolio of solar assets on a standalone and co-located basis and provides multiple diversification benefits for shareholders." |
Posted at 23/2/2024 09:44 by tag57 Rambutan, thank you for the link. A good podcast I have now signed up to.Shows the importance of focussing on the contracts the alt energy fund has in place and something I will definitely pay more attention to in the future. I have too much invested in NESF and taken a substantial paper loss over the last 18 months although this share price reduction is certainly not solely restricted to this fund. I am hopeful that as the BOE reduce interest rates the share price will come back to at least cover my net purchase cost (investment - divi) but shall have to see. At least I continue to get paid while I wait. |
Posted at 25/11/2023 16:44 by masurenguy NextEnergy Solar Fund Manager says share price "unjustified" after solid interimsNextEnergy Solar Fund Ltd (LSE:NESF) Manager Ross Grier visits the Proactive London studio to speak with Thomas Warner following the release of interim results for the six months ended 30 September 2023. Grier discusses the fund's performance, noting a slight decrease in net asset value, primarily due to an increased discount rate for UK assets, reflecting the current high-interest rate market. He says NESF successfully launched the Whitecross Solar Farm (36 megawatts) in the UK and is advancing the construction of the Camilla Battery Storage asset, set to be operational in the first half of 2024. A key achievement highlighted by Greer was the progress in NESF's capital recycling program, which involves selling assets to fund growth opportunities. This strategy was exemplified by the profitable sale of the Hatherden asset at a significant premium. Focusing on generating total returns for investors, NESF prioritises operational excellence and dividend growth, maintaining a strong track record as a dividend payer with a current target of 8.35 pence. Looking ahead, Grier says that NESF will continue emphasising operational efficiency across its assets, advancing the capital recycling program, and integrating the Camilla battery storage asset into its portfolio. He suggests that the current share price is "unjustified" given the performance of the fund so far this year. He projects a positive outlook for NESF, anticipating a share price increase aligned with net asset value as market sentiment improves. Disclosure: I have a holding here. |
Posted at 24/11/2023 10:27 by topvest I've doubled up today, so average price is 92p. Why? Because of a likely 8-10% tax free return from here if the share price increases on-top of the 8% expected return; and because Helen Mahy is the Chair - she is a strong lady and going to be good for this fund. Nothing wrong with the small accretive sale - it was fast and valued by a third party. 4 more assets to be sold if 1. the price is right and 2. The RCF facility is still expensive next year.Downside is that the fund is a tad ex-growth with an 11 year average remaining asset life. That being said, I can't see NAV going much lower with the weighted average discount rate already 8% and interest rates topped-out. Indeed, NAV might start increasing a tad from here, maybe back to 110p. Once interest rates start coming-off and the share price stabilises then this could attract some more buyers. In the meantime, 8-10% tax free is nice! |
Posted at 28/4/2023 07:56 by masurenguy NextEnergy Solar puts assets up for sale to raise capital, buy back sharesRenewables fund hopes sale of five solar assets will generate enough money to cut its debts, provide funds for investment and buy back shares currently on a 12% discount. NextEnergy Solar (NESF) is selling a big slug of its portfolio in a bid to tackle its share price discount, cut debts and re-invest in battery storage. In what analysts see as a test case for renewables funds, whose share price de-ratings have prevented them from raising money through equity issues, NESF has put five unsubsidised UK solar assets up for sale. Although the investment company did not say how much it was looking to raise, it said it aimed to ‘capture significant value’ from the sale of the 236MW portfolio. This represents 28% of the 865MW total capacity NESF had last September. With a current net asset value (NAV) of £717m that could imply a price tag of up to £179m. Alternatively, excluding two assets under development, the generating capacity reduces to a sixth of the current portfolio which gives a lower sum of £119m. Underlining the size of the transaction, NESF said it would use the proceeds to ‘materially reduce’ its £166m of borrowings and provide funds for its £500m investment pipeline and launch a share buyback programme to narrow its 12% discount to NAV. Numis Securites analyst Colette Ord said the assets would have to sell for £0.7m per MW to clear NESF’s credit facilities with NatWest, AIB Group and Santander. ‘Any outcome will also be interesting for the broader renewables peer group, where shares have been trading at notable discounts to NAV. Something we feel undervalues the return potential of many of the funds in the sector, including yields of 6-7%,’ the analyst said. Ord added: ‘The market will watch the valuation multiples with interest and if they continue to support or exceed current NAV levels we would expect this to be a rerating catalyst to close many of the prevailing discounts which persist across the various infrastructure strategies.’ Winterflood’s Emma Bird said: ‘At face value, we consider today’s announcement a prudent step to strengthen NESF’s balance sheet. Asset disposals will serve as an important barometer for current valuations of solar assets in the wider sector.’ Bird said the divestment had the additional benefit of reducing NESF’s tax liability with respect to the UK’s Electricity Generator Levy, and tilted the portfolio more towards capital growth which in aggregate is NAV accretive. She described NESF’s the 12% discount as a ‘compelling entry point’. Stifel’s Iain Scouller retained his ‘positive&rsqu The shares added 1.6p to 108.4p. Over five years, including dividends, they have provided a total return of 34%, among the lowest in the sector. |
Posted at 10/10/2022 11:09 by speedsgh NESF share price seemingly disproportionately affected by the news. Are they affected more by the changes than their peers? |
Posted at 09/8/2022 15:50 by a0002577 Hi GBCol, trouble is when a share move into the FT-250 without a big buffer, it will likely drop out again whne uts share price drops a small amount. This exacerbates the share price fall. Remember that every share price goes on an annual random walkabout.Every year Since launch NESF share price has wandered up and down by 10 - 15%. Yr MIN MAX 2014 101.00 106.25 2015 97.75 109.25 2016 92.25 109.75 2017 105.25 116.00 2018 107.50 115.00 2019 112.00 125.00 2020 87.60 126.50 2021 96.50 107.40 2022 99.60 119.00 |
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