NESF Nextenergy Solar Fund Limited

TIDMNESF

RNS Number : 9670A

NextEnergy Solar Fund Limited

31 December 2014

31 December 2014

NextEnergy Solar Fund Limited ("NESF")

Agreement to acquire a solar power plant of 19.4MWp

- Share purchase agreement signed to acquire 19.4MWp Boxted Airfield solar power plant ("Boxted Airfield") for up to GBP20.6 million

- NESF has now secured eleven assets for a total of c. 124 MWp and a total investment value of c. GBP145 million (c. 79% of equity proceeds raised to date)

NESF is pleased to announce the signing of a share purchase agreement ("SPA") to acquire a special purpose vehicle owning the Boxted Airfield solar power plant project. The plant will be constructed under an Engineering, Procurement and Construction contract ("EPC") negotiated by NESF's Investment Manager, NextEnergy Capital Limited.

The Boxted Airfield plant is located in Essex, and is to be accredited under the 1.4 Renewable Obligation Certificate ("ROC") regime. Construction has begun on the plant, with site preparation complete and civil works under way. In the event the plant is not commissioned by March 2015 or does not secure the 1.4 ROC regime, NESF has the right to terminate the SPA and not acquire the plant without incurring any financial penalties.

The Boxted Airfield plant is located on low grade agricultural land within the former RAF Boxted airfield site. The site development plan has been elaborated to achieve significant benefit to the immediate local wildlife population and diversity.

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

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

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