NextEnergy Solar Fund Limited Acquisition (5584V)
29 Outubro 2014 - 5:02AM
UK Regulatory
TIDMNESF
RNS Number : 5584V
NextEnergy Solar Fund Limited
29 October 2014
29 October 2014
NextEnergy Solar Fund Limited ("NESF")
Agreement to acquire 10.2MWp solar power plant
- Share purchase agreement signed to acquire the 10.2MWp
Condover solar power plant ("Condover")
- Total acquisition value of up to GBP11.7 million
- Purchase to be completed at PAC
- IPO proceeds of GBP85.6m now fully allocated across eight assets for a total of c. 78MWp
- GBP6.6 million (represents c. 21%) of Revolving Credit
Facility ("RCF") allocated as required to cover Condover's
investment value beyond IPO proceeds
NESF is pleased to announce the signing of a share purchase
agreement ("SPA") to acquire a special purpose vehicle ("SPV")
owning the Condover solar power plant project, which is located in
Shropshire.
Condover will be constructed under an Engineering, Procurement
and Construction contract ("EPC") negotiated by NESF's Investment
Manager, NextEnergy Capital Limited. Under the terms of the EPC,
Condover is expected to achieve commissioning by March 2015. The
plant is to be accredited under the 1.4 Renewable Obligation
Certificate regime. In the event Condover is not commissioned by
March 2015, NESF has the right to terminate the SPA and not acquire
the plant.
NESF has committed to acquire the SPV following the issuance of
the preliminary acceptance certificate ("PAC"), subject to certain
timing and performance criteria being achieved, for a total
consideration of up to GBP11.7 million. PAC is expected to occur
during April 2015. NESF is funding the commitment through a
combination of its IPO proceeds and access to the RCF.
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
Rupert Trefgarne
Jamie Ricketts
Notes to Editors:
NextEnergy Solar Fund
NextEnergy Solar Fund (www.nextenergysolarfund.com) is a
specialist investment fund focused on operational solar
photovoltaic ("PV") assets located in the UK. The Company intends
to provide investors with a sustainable and attractive dividend
that increases in line with RPI over the long term and an element
of capital growth through the re-investment of net cash generated
in excess of the target dividend.
Further information on NextEnergy Capital and WiseEnergy is
available at 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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