TIDMNESF
RNS Number : 6754U
NextEnergy Solar Fund Limited
03 August 2022
LEI: 213800ZPHCBDDSQH5447
3 August 2022
NextEnergy Solar Fund Limited
("NESF" or the "Company")
86MW Additional Subsidised Solar Contracts Secured
NextEnergy Solar Fund, the specialist solar and energy storage
climate impact fund, with a combined installed power capacity of
865MW, is pleased to announce that it has successfully secured
additional subsidised solar contracts in the UK. The Company has
entered into contracts on 86MW of planned additional capacity
through the fourth Contracts for Difference (CfD) Allocation Round
(AR4) announced last month.
The CfD scheme is the government's main mechanism for supporting
low-carbon electricity generation and further demonstrates the
crucial role utility-scale solar plays in the UK's energy mix,
helping drive forward net zero ambitions and increasing the UK's
energy independence and energy security.
The CfDs have been secured for 100% of the generating capacity
of Whitecross (36MW) and Hatherden (50MW), the Company's latest
new-build UK solar projects. The CfDs last for 15-years, are index
linked to inflation (CPI) annually, and are scheduled to commence
from 31 March 2025 at the AR4 solar PV strike price of GBP45.99/MWh
(set in 2012 equivalent prices).
Whitecross solar farm is currently under construction in
Lincolnshire and is expected to be energised in the first quarter
of 2023. Grid connection and construction mobilisation works are
underway for Hatherden solar farm in Hampshire, which is
anticipated to be energised in the first half of 2023.
Ross Grier, UK Managing Director, NextEnergy Group commented
:
"The inclusion of solar PV in AR4 demonstrates the importance of
this source of clean energy generation to the transition to net
zero and we are delighted to have secured CfDs for NESF through the
competitive auction process. By providing long term revenue
stability for the new solar plants, the CfDs complement NESF's
continued delivery of attractive, risk-adjusted returns for
investors whilst also achieving low-cost price security for energy
consumers. Our ability to secure CfDs further underlines our
market-leading position in the UK solar sector."
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
Kathryn Deegan
Cenkos Securities 020 7397 8900
James King
William Talkington
Camarco 020 3757 4980
Owen Roberts
Eddie Livingstone-Learmonth
Ocorian Administration (Guernsey)
Limited 014 8174 2642
Kevin Smith
Notes to Editors(1) :
About NextEnergy Solar Fund
NESF is a specialist solar and energy storage climate impact
fund. The Company is structured as a 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
infrastructure funds, and 10% in energy storage.
NESF currently has a diversified portfolio comprising of the
following:
Solar PV:
-- 100 operating solar assets across the UK and Italy (primarily
on agricultural, industrial, and commercial sites)
-- A 50MW co-investment into a Spanish solar project alongside
NextPower III ESG, currently under construction
-- A 210MW co-investment into a Portuguese solar project
alongside NextPower III ESG, currently under construction
-- A UK solar project under construction (Whitecross 36MW)
-- A ready-to-build UK solar project (Hatherden 50MW)
-- A $50m commitment into NextPower III ESG (a private solar
infrastructure fund providing exposure to both operating and under
construction, international solar assets)
Energy Storage:
-- A 50MW standalone battery storage project in Fife, Scotland,
currently under construction (part of a 250MW joint venture with
Eelpower)
-- A 6MW co-located battery storage project at North Norfolk Solar Farm
The NESF portfolio has a combined installed power capacity of
865MW (excluding NextPower III MW on an equivalent look-through
basis).
As at 31 March 2022, the Company had a gross asset value of
GBP1,150 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
GBP668.5 million.
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 www.
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.
Article 9
NESF is classified under Article 9 of the EU Sustainable Finance
Disclosure Regulation and EU Taxonomy Regulation.
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 multiple 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,
which is listed on the premium segment of the London Stock
Exchange. It currently owns 865MW spread among 100 individual
operating assets in the UK and Italy, comprising a gross asset
value of GBP1,150m. 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 in
excess of its 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 is a fund that provides a positive social and environmental impact to the countries it has and will invest into. NPIII completed its fundraise with a total of $896m, including a SMA raised. The target of the fund was $750m.
-- NextPower UK ESG ("NPUK") is a private unlevered fund
investing in greenfield subsidy-free solar projects, with PPA's, in
the UK. NPUK 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 1,400 utility-scale solar power plants with an
installed capacity in excess of 1.8GW. 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.5GW of both green and brownfield
project developments across global geographies.
Notes:
(1:) All financial data is at 31 March 2022, being the latest
date in respect of which NESF has published financial
information
, the news service of the London Stock Exchange. RNS is approved by
the Financial Conduct Authority to act as a Primary Information
Provider in the United Kingdom. Terms and conditions relating to
the use and distribution of this information may apply. For further
information, please contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDPTMATMTAMBLT
(END) Dow Jones Newswires
August 03, 2022 02:00 ET (06:00 GMT)
Nextenergy Solar (LSE:NESF)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Nextenergy Solar (LSE:NESF)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024