US Solar Fund PLC FIFTH ACQUISITION UPDATE (7020O)

TIDMUSF TIDMUSFP

RNS Number : 7020O

US Solar Fund PLC

02 June 2020

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO WOULD BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR ANY SOLICITATION OF ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY INVESTMENTS IN ANY JURISDICTION.

2 June 2020

US SOLAR FUND PLC (USF, the "Company")

FIFTH ACQUISITION UPDATE

FINANCIAL CLOSE ON FOUR SOLAR PROJECTS (61MW(DC) ) IN OREGON

US Solar Fund plc (LON: USF (USD)/USFP (GBP)) is pleased to announce that it has closed the acquisition of the cash equity interests in an approximately 61MW(DC) portfolio of four mechanically-complete utility-scale solar plants located in Oregon. This occurred simultaneously with the financial close of tax equity financing and a binding loan commitment from the loan-term debt provider. The Company announced the acquisition on 28 May 2020 and has since progressed to financial close.

Further information on the Company can be found on its website at U32T 32 http://www.ussolarfund.co.uk

For further information, please contact:

 
US Solar Fund 
 Whitney V oûte    [phone] 
Cenkos Securities plc 
 Will Rogers 
 Rob Naylor 
 Will Talkington        [phone] 
KL Communications       [phone] 
Charles Gorman 
 Charlotte Stickings 
 

About US Solar Fund plc

US Solar Fund plc listed on the premium segment of the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.

The Company acquires or constructs, owns and operates solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs).

About the Investment Manager

USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund which has committed over US$1bn to US and Australian solar plants since late 2015.

NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX-listed company (ASX: ED1) with over A$20 billion of funds under advice and management.

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 [e-mail] or visit www.rns.com.

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June 02, 2020 06:58 ET (10:58 GMT)