NextEnergy Solar Fund Limited Acquisition (3693L)
11 Janeiro 2016 - 5:00AM
UK Regulatory
TIDMNESF
RNS Number : 3693L
NextEnergy Solar Fund Limited
11 January 2016
11 January 2016
NextEnergy Solar Fund Limited ("NESF")
Acquisition of a portfolio of three operating plants totalling
53MWp
- Acquisition of a portfolio of three operating plants totalling
53MWp ("Portfolio") for GBP61.7 million
- Portfolio comprises Fenland (20.4MWp), Green End (24.8MWp) and
Tower Hill (8.1MWp) (the "Plants")
- Plants connected and accredited under 1.4 Renewable Obligation Certificate ("ROC") regime
- Portfolio has long-term fully-amortising project financing of
GBP45.4 million in place, with expiry in 2032
- NESF has now secured 28 assets totalling 329MWp with a total
investment value of GBP382 million
NESF is pleased to announce the signing and completion of the
share purchase agreement to acquire a portfolio comprising three
operating solar PV plants totalling 53.3MWp for a total net
consideration of GBP61.7 million (including transaction costs) plus
working capital. The total net consideration includes the long-term
fully-amortising project financing ("Project Financing") currently
drawn by the Portfolio.
The Plants were grid-connected during the first quarter of 2015
and are operating under the 1.4 ROC regime. Green End is located in
Cambridgeshire and has an installed capacity of 24.8MWp. Fenland is
also located in Cambridgeshire and has an installed capacity of
20.4MWp. Tower Hill is located in Gloucestershire and has an
installed capacity of 8.1MWp.
The Portfolio's Project Financing of GBP45.4m has been extended
by Bayerische Landesbank ("Project Financing"), and will remain in
place. The Project Financing expires at year-end 2032. NESF has
drawn on its revolving credit facility with Macquarie Bank Limited
to finance the balance of the Portfolio's acquisition value.
Following acquisition of the Portfolio, NESF has drawn debt
facilities and project-level debt amounting to GBP119.6m in total.
The Company's net asset value as at 30 September 2015 (adjusted for
the December dividend payment) amounts to GBP280.3m.
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
Macquarie Capital (Europe)
Limited 020 3037 2000
Ken Fleming
Nick Stamp
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, residential and
commercial sites.
NESF has raised equity proceeds of GBP285.4m since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities of GBP168.1m in place
(Macquarie: GBP100m, Bayersiche Landesbank: GBP45.4m and NIBC:
GBP22.7m).
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 1,200 utility-scale solar power plants with an
installed capacity in excess of 1.5 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
ACQURSVRNWAAAAR
(END) Dow Jones Newswires
January 11, 2016 02:00 ET (07:00 GMT)
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