NextEnergy Solar Fund Ltd.

M&A Activity • Jun 25, 2018

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RNS Number : 3216S

NextEnergy Solar Fund Limited

25 June 2018

25 June 2018

NextEnergy Solar Fund Limited

("NESF" or the "Company")

Acquisition of ten operating solar plants in the UK with total installed capacity of 46.6MWp

·     Share purchase agreement signed to acquire a portfolio ("Portfolio") of ten operating solar plants totalling 46.6MWp located in the UK for a total investment value of £52.9m

·     All sites have been constructed and all connected to the grid prior to March 2017

·     The acquisition increases NESF's portfolio to 75 assets with a total capacity of 622.7 MWp and total investment value of £792.4m

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 ten operating solar plants with a total installed capacity of 46.6 MWp. The plants were acquired from a single counterparty, from which the Company has previously acquired five solar power plants.

All ten assets were connected during 2016 and 2017, with subsidies including both renewable obligations certificates ("ROC") and feed-in-tariffs ("FiT").

The Portfolio comprises:

·     Fiskerton (13.0 MWp, Lincolnshire)

·     Thornborough Grounds (5.0 MWp, Buckinghamshire)

·     Sywell (5.0 MWp, Northamptonshire)

·     Temple Normanton (4.9 MWp, Derbyshire)

·     Brafield (4.9 MWp, Northamptonshire)

·     Balhearty (4.8 MWp, Clackmannanshire)

·     Little Irchester (4.7 MWp, Northamptonshire)

·     Coton Park (2.5 MWp, Derbyshire)

·     Huddlesford House (0.9 MWp, Staffordshire)

·     Huddlesford Park Lane (0.9 MWp, Staffordshire)

NESF continues to pursue further transactions from its pipeline of acquisition opportunities and expects to announce additional investments in due course.

For further information:

NextEnergy Capital Limited	020 3746 0700
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe	020 7894 7667
Sue Inglis 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 £592m since its initial public offering on the main market of the London Stock Exchange in April 2014. It also has credit facilities of £270m in place (£149m from a syndicate including MIDIS, NAB and CBA; MIDIS: £54m; ING £34m; and UniCredit £33m).

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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