TIDMNESF
RNS Number : 9370F
NextEnergy Solar Fund Limited
24 March 2022
LEI: 213800ZPHCBDDSQH5447
24 March 2022
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Scrip Dividend Shares - Additional Listing
NextEnergy Solar Fund, a renewable energy infrastructure
investment company specialising in solar that provides shareholders
with an attractive risk-adjusted return from a diversified
portfolio of primarily UK-based assets, is pleased to announce the
following in respect of the scrip dividend:
Dividend period: 1 October 2021 to 31 December
2021
Dividend amount per share: 1.79 pence
Scrip dividend price per share: 101.28 pence
Payment date/Allotment of scrip: 31 March 2022
Number of new shares to be issued: 383,144
Application has been made to the London Stock Exchange for
383,144 ordinary shares to be admitted to trading. These ordinary
shares are to be issued as a scrip dividend alternative to
receiving a cash dividend in respect of the dividend for the third
quarter of the Company's 2021/22 financial year. Dealings are
expected to commence at 8:00 a.m. on 31 March 2022.
Immediately following Admission, the Company's issued share
capital will comprise 589,077,244 ordinary shares, none of which
will be held in treasury. Each ordinary share carries the right to
one vote and, therefore, the total number of voting rights in the
Company on Admission will be 589,077,244. This figure may be used
by shareholders and other investors as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure Guidance and Transparency
Rules.
-End-
For further information:
NextEnergy Capital Group 020 3746 0700
Michael Bonte-Friedheim ir@nextenergysolarfund.com
Aldo Beolchini
Ross Grier
Peter Hamid (Investor Relations)
RBC Capital Markets 020 7653 4000
Matthew Coakes
Elizabeth Evans
Kathryn Deegan
Cenkos Securities 020 7397 8900
James King
William Talkington
Camarco 020 3781 8334
Owen Roberts
Eddie Livingstone-Learmonth
Apex Fund and Corporate Services (Guernsey)
Limited 0203 5303 668
Nick Robilliard
Notes to Editors(1) :
About NextEnergy Solar Fund
NESF is a specialist solar power renewable energy investment
company listed on the premium segment of the London Stock Exchange
that invests in utility-scale solar power plants and energy
storage. The Company may invest up to 30% of its gross asset value
in non-UK OECD countries, 15% in solar-focused private equity
structures, and 10% in energy storage.
NESF currently has a diversified portfolio comprising of the
following:
-- 99 operating solar assets across the UK and Italy (primarily
on agricultural, industrial, and commercial sites)
-- A $50m commitment into NextPower III ESG (a private solar
infrastructure fund providing exposure to operating and
in-development international solar assets)
-- A 50MW co-investment into a Spanish solar project alongside
NextPower III ESG, currently in construction
-- A 50MW standalone battery storage project in Fife, Scotland,
currently in construction (part of a 250MW joint venture with
Eelpower)
-- Two subsidy free UK solar ready-to-build projects (Hatherden 50MW & Whitecross 35MW)
The NESF portfolio has a combined installed power capacity of
865MW (excluding NextPower III MW on an equivalent look-through
basis).
As at 31 December 2021, the Company had a gross asset value of
GBP1,094 million, being the aggregate of the net asset value of the
ordinary shares, the fair value of the preference shares and the
amount of NESF Group debt outstanding, and a net asset value of
GBP615million.
NESF's investment objective is to provide ordinary shareholders
with attractive risk-adjusted returns, principally in the form of
regular dividends, by investing in a diversified portfolio of solar
energy and energy storage infrastructure assets. The majority of
NESF's long-term cash flows are inflation-linked via UK government
subsidies.
For further information on NESF please visit
nextenergysolarfund.com
Commitment to ESG
NESF is committed to ESG principles and responsible investment
which make a meaningful contribution to reducing CO2 emissions
through the generation of clean solar power. NESF will only select
investments that meet the requirements of NEC Group's Sustainable
Investment Policy. Based on this policy, NESF benefits from NEC's
rigorous ESG due diligence on each investment. NESF is committed to
reporting on its ESG performance in accordance with the UN
Sustainable Development Goals framework and the EU Sustainable
Finance Disclosure Regulation.
NESF has been awarded the London Stock Exchange's Green Economy
Mark and has been designated a Guernsey Green Fund by the Guernsey
Financial Services Commission.
NESF's sustainability-related disclosures in the financial
services sector in accordance with Regulation (EU) 2019/2088 can be
accessed on the ESG section of both the NESF website (
nextenergysolarfund.com/esg/ ) & NEC Group website (
nextenergycapital.com/sustainability/transparency-and-reporting/
).
About NextEnergy Group
NESF is managed by NextEnergy Capital, part of the NextEnergy
Group. NextEnergy Group was founded in 2007 to become a leading
market participant in the international solar sector. Since its
inception, it has been active in the development, construction and
ownership of solar assets across jurisdictions. NextEnergy Group
operates via its three business units: NextEnergy Capital
(Investment Management), WiseEnergy (Operating Asset Management)
and Starlight (Asset Development).
NextEnergy Capital
NextEnergy Capital comprises the Group's investment management
activities. To date, NEC has invested in over 325 individual solar
plants for a capacity in excess of 2.3GW across it institutional
funds.
www.nextenergycapital.com
-- NextEnergy Solar Fund ("NESF") is a solar infrastructure
investment company focused on the UK and other OECD countries, that
is listed on the premium segment of the London Stock Exchange. It
currently owns 865MW spread among 99 individual assets in the UK
and Italy, comprising a gross asset value of GBP1,094m. NESF is one
of the largest listed solar energy investment companies in the
world.
-- NextPower II ("NPII") a private fund made up of 105
individual operating solar power plants and an installed capacity
of 149MW, focused on consolidating the substantial, highly
fragmented Italian solar market. NPII was successfully divested in
January 2022, a 2016 vintage vehicle that generated net IRRs to its
investors in excess of 25%, versus a gross target of 10-12%.
-- NextPower III ESG ("NPIII") is a private fund exclusively focused on the international solar infrastructure sector, principally targeting projects in carefully selected OECD countries, including the US, Portugal, Spain, Chile, Poland and Italy. NPIII ESG is a fund that provides a positive social and environmental impact to the countries it has and will invest into. NPIII has completed its fundraise with a total of $896m, including a SMA raised. The target of the fund was $750m.
-- NextPower UK ESG ("NPUK ESG") is a private unlevered fund
investing in greenfield subsidy-free solar projects, with PPA's, in
the UK. NPUK ESG was launched in December 2021. The UK
Infrastructure Bank is providing financing to the initial seed
assets of the fund, and plans to invest up to GBP250m, half of the
fund's total target fund size, on a match-funding basis.
WiseEnergy
WiseEnergy(R) is NextEnergy Capital Group's operating asset
manager. WiseEnergy is a leading specialist operating asset manager
in the solar sector. Since its founding, WiseEnergy has provided
solar asset management, monitoring and technical due diligence
services to over 1,300 utility-scale solar power plants with an
installed capacity in excess of 2.2GW. WiseEnergy clients comprise
leading banks and equity financiers in the energy and
infrastructure sector.
www.wise-energy.com
Starlight
Starlight is NextEnergy Group's development company that is
active in the development phase of solar projects. It has developed
over 100 utility-scale projects internationally and continues to
progress a large pipeline of c.2.5GW of both green and brownfield
project developments across global geographies.
Notes:
(1:) All financial data is unaudited as at 31 December 2021,
being the latest date in respect of which NESF has published
financial information
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