NextEnergy Solar Fund Limited NESF partners with Zestec (5596P)
11 Febrero 2019 - 01:00AM
UK Regulatory
TIDMNESF
RNS Number : 5596P
NextEnergy Solar Fund Limited
11 February 2019
11 February 2019
NextEnergy Solar Fund Limited
("NESF" or "Company")
NESF partners with Zestec for commercial rooftop solar
rollout
NextEnergy Solar Fund, the specialist investment company that
primarily invests in operating solar power plants in the UK, has
entered into a partnership with Zestec Asset Management Limited
("Zestec") for the future acquisition of operating solar plants to
be installed on commercial properties.
-- Framework agreement ("Framework Agreement") signed between NESF and Zestec
-- Zestec to develop and build out solar projects on UK commercial rooftops
-- Target up to GBP20m investment in 2019 to construct a
portfolio of solar projects on commercial properties
-- NESF has the option both to acquire operational assets and to fund construction of new assets
-- NESF to monetise electricity generated principally from power
purchase agreements ("PPAs") with commercial landlords
NESF has agreed a Framework Agreement with Zestec to install
commercial solar PV across the UK using a PPA model developed
jointly with Zestec. Zestec will source, develop and install solar
power plants on commercial properties throughout the UK. Commercial
landlords will buy the electricity produced by the solar PV system
installed on their roofs under a PPA with NESF, at a reduced tariff
compared to their normal electricity import cost. Projects
constructed prior to 1 April 2019 will receive a 20-year RPI linked
feed-in-tariff ("FiT").
Under the Framework Agreement, NESF has agreed to invest up to
GBP20m in new solar installations in 2019, of which GBP5m has been
committed to the initial batch of installations to be acquired
during early 2019. NESF's status as a London Stock Exchange listed
entity makes it attractive to landlords looking to ensure an
identifiable counterparty and maintain a long-term relationship.
NESF will enter into agreements ranging between 15 and 25 years
with commercial business owners and landlords, receiving revenue
from the PPA and, where assets are constructed before 1 April 2019,
a supplemental FiT payment.
For further information:
NextEnergy Capital Limited
Michael Bonte-Friedheim 020 3746
Aldo Beolchini 0700
Cantor Fitzgerald Europe 020 7894
Robert Peel 7667
Fidante Capital 020 7832
John Armstrong-Denby 0900
Shore Capital 020 7408
Anita Ghanekar 4090
Macquarie Capital (Europe) Limited 020 3037
Nick Stamp 2000
MHP Communications 020 3128
Oliver Hughes 8100
Ipes (Guernsey) Limited 01481 755
Nicholas Robilliard 137
Notes to Editors:
NESF is a specialist investment company that invests primarily
in operating solar power plants in the UK. It is able to invest up
to 15% of its Gross Asset Value in operating solar power plants in
OECD countries outside the UK. The Company's 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 and commercial
sites.
As at 31 December 2018, NESF has raised equity proceeds of
GBP692m (including GBP100m of preference shares) since its initial
public offering on the main market of the London Stock Exchange in
April 2014. It also has credit facilities outstanding of c.GBP296m
in place (GBP148m from a syndicate including MIDIS, NAB and CBA;
MIDIS: GBP52m; Santander GBP40m; and Bayerische Landesbank
GBP56m).
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 and over the course of its activities has provided
operating asset management, monitoring, technical due diligence and
other services to over 1,300 utility-scale solar power plants with
an installed capacity in excess of 1.9 GW.
Further information on NESF, NEC Group and WiseEnergy is
available at nextenergysolarfund.com, nextenergycapital.com and
wise-energy.eu.
This information is provided by RNS, 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.
END
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