NextEnergy Solar Fund Limited Acquisition (8362H)
March 19 2015 - 3:00AM
UK Regulatory
TIDMNESF
RNS Number : 8362H
NextEnergy Solar Fund Limited
19 March 2015
19 March 2015
NextEnergy Solar Fund Limited ("NESF")
Agreement signed to acquire a solar power plant of 6.5MWp
- Share purchase agreement signed to acquire 6.5MWp Park View
solar power plant ("Park View") for up to GBP7.5 million
- NESF has now secured 14 assets for a total of c. 154.8MWp and
a total investment value of c. GBP179.2 million (c. 73% of equity
proceeds raised to date)
NESF is pleased to announce the signing of the share purchase
agreement ("SPA") to acquire a special purpose vehicle which owns
the Park View solar power plant. The plant is being constructed
under an Engineering, Procurement and Construction contract ("EPC")
negotiated by NESF's investment advisor, NextEnergy Capital
Limited.
Park View is located in Devon, and is to be accredited under the
1.4 Renewable Obligation Certificate ("ROC") regime. The SPV will
be acquired by NESF upon achievement of the preliminary acceptance
certificate ("PAC"), which NESF expects to be issued by May
2015.
For further information:
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
MHP Communications 020 3128 8100
Andrew Leach
Jamie Ricketts
Gina Bell
Notes to Editors:
NextEnergy Solar Fund (NESF)
NESF is a specialist investment company that invests in
operating solar power plants in the UK. Its 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 more than GBP245m since its
initial public offering on the main market of the London Stock
Exchange in April 2014. It also has a two-year revolving credit
facility of GBP31.5m in place.
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, providing solar asset management, monitoring and other
services to over 1,000 utility-scale solar power plants with an
installed capacity in excess of 1 GW.
Further information on NESF, NEC Group and WiseEnergy is
available at www.nextenergysolarfund.com, www.nextenergycapital.com
and www.wise-energy.eu.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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