Solar

M&A Activity • Nov 22, 2016

National Storage Mechanism | Additional information

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RNS Number : 7641P

NextEnergy Solar Fund Limited

22 November 2016

22 November 2016

NextEnergy Solar Fund Limited (the "Company")

Acquisition of a plant with capacity of 5MWp and an investment value of £4.4m

·          Share purchase agreement exchanged to acquire the 5MWp Kentishes solar plant

·          Completion of acquisition expected in the first half of 2017

·          The plant is nearing the end of construction and is set to be accredited under 1.2 Renewable Obligation Certificate ("ROC") regime qualifying for the significant investment grace period

·          NESF has now secured 34 assets totalling 419 MWp with a total investment value of £485 million since its IPO in April 2014

NESF is pleased to announce the signing of the share purchase agreement to acquire the Kentishes solar plant.  The plant, located in Essex, is currently under construction and is expected to be connected well in advance of the 31 March 2017 deadline for achieving 1.2 ROC accreditation.

The Company is familiar with the vendor, having acquired six separate solar power plants from it previously.  The completion of the acquisition will follow accreditation and is expected to take place within the first half of 2017.

For further information:

NextEnergy Capital Limited	020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe	020 7894 7667
Sue Inglis
Fidante Capital	020 7832 0900
Robert Peel Justin Zawoda-Martin
Shore Capital	020 7408 4090
Bidhi Bhoma
Anita Ghanekar
Macquarie Capital (Europe) Limited	020 3037 2000
Nick Stamp
MHP Communications	020 3128 8100
Andrew Leach / Jamie Ricketts / Rebecca Emery

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 approximately £465m since its initial public offering on the main market of the London Stock Exchange in April 2014.  It also has credit facilities of £210.0m in place (Macquarie and Santander: £88.5m, of which £43.0m is drawn; MIDIS: £44.9m; Bayerische Landesbank: £44.9m; and NIBC: £21.7m).

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 1,250 utility-scale solar power plants with an installed capacity in excess of 1.7 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

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