NextEnergy Solar Fund Limited Acquisition (9859W)

TIDMNESF

RNS Number : 9859W

NextEnergy Solar Fund Limited

07 August 2018

7 August 2018

NextEnergy Solar Fund Limited

("NESF" or the "Company")

Acquisition of 282 rooftop solar assets in the UK with a total installed capacity of 1.15MW

-- Share purchase agreement signed to acquire two portfolios of rooftop solar assets across the UK, with an installed capacity of 1.15MW for a total investment value of GBP3.6m

-- The two portfolios consist of 282 assets, of which seven are commercial rooftop and the rest residential rooftops

   --     NESF's second rooftop portfolio acquisition 

NESF, a specialist investment company that invests primarily in UK solar power plants, is pleased to announce the signing and completion of a share purchase agreement for the acquisition of two portfolios of operating rooftop solar consisting of 282 assets, an overall installed capacity of 1.15MW. The first portfolio consists of 63 rooftop solar assets, of which 7 are commercial and the remaining residential, and the second portfolio consists of 219 residential rooftop assets.

All 282 rooftop assets were connected to grid between 2011 and 2012 and receive feed-in-tariff subsidies and an export tariff. The average size of the residential installations is 2kW.

The acquisition increases NESF's operating portfolio to 87 assets with a total capacity of 691MW and total investment value of GBP894m.

For further information:

 
 NextEnergy Capital Limited            020 3746 0700 
 Michael Bonte-Friedheim 
 Aldo Beolchini 
 
 Cantor Fitzgerald Europe              020 7894 7667 
 Robert Peel 
 
 Fidante Partners Europe Limited       020 7832 0900 
 Tom Skinner 
  Justin Zawoda-Martin 
 
 Shore Capital                         020 7408 4090 
 Anita Ghanekar 
 
 Macquarie Capital (Europe) Limited    020 3037 2000 
 Nick Stamp 
 
 MHP Communications                    020 3128 8100 
 Oliver Hughes 
 Ipes (Guernsey) Limited               01481 713 843 
 Nick Robilliard 
 
 

Notes to Editors:

NESF is a specialist investment company that invests primarily in operating solar power plants in the UK. It has the authority 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.

NESF has raised equity proceeds of GBP592m since its initial public offering on the main market of the London Stock Exchange in April 2014. It also has credit facilities outstanding of c.GBP365m in place (GBP149m from a syndicate including MIDIS, NAB and CBA; MIDIS: GBP54m; ING GBP32m; UniCredit GBP32m; Santander GBP40m; and Bayerische Landesbank GBP58m).

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 www.nextenergysolarfund.com, www.nextenergycapital.com and www.wise-energy.eu.

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August 07, 2018 02:00 ET (06:00 GMT)