NextEnergy Solar Fund Limited NextEnergy Solar Fund energises Staughton
16 Diciembre 2019 - 1:01AM
RNS Non-Regulatory
TIDMNESF
NextEnergy Solar Fund Limited
16 December 2019
16 December 2019
NextEnergy Solar Fund Limited
("NESF" or "Company")
NextEnergy Solar Fund energises UK's largest subsidy-free solar
plant
Further to the announcement of 14 November 2019, NextEnergy
Solar Fund today announces the energisation of Staughton, the UK's
largest subsidy-free solar plant with an installed capacity of
50MWp. The Staughton solar plant will cover the yearly electricity
demand of approximately 15,000 UK households. It is largely located
on a former airfield on the Bedfordshire/Cambridgeshire border.
The electricity generated by the plant will be bundled with
NESF's existing portfolio of generating plants and sold under sales
contracts already in place. In selling the electricity generated by
Staughton and the rest of its portfolio, the Company benefits from
the electricity sales desk provided by its asset manager
WiseEnergy.
Staughton is NESF's second subsidy-free solar plant energised
during the current financial year following the completion of Hall
Farm II (5.4MWp, located in Leicestershire) in August 2019. The
Company's overall portfolio of operating solar plants has increased
to 755MWp spread among 90 individual solar plants (including three
residential rooftop portfolios).
NESF has also started preparing the site of its next
subsidy-free solar plant, High Garrett, for construction. High
Garrett is an 8.5MWp extension to a 5MWp ROC asset known as
Kentishes acquired in 2016. This asset is expected to be completed
during the first half of 2020.
NESF has developed innovative structuring, delivery and
operating asset management capabilities to develop and construct
subsidy-free plants in the UK that are value-accretive for the
Company and its investors. The Company intends to add a total of
approximately 150MWp (of which 55.4MWp is now delivered) in UK
subsidy-free capacity to its portfolio as it leads the transition
of the solar industry from a subsidy-based regime to providing
clean electricity on market competitive terms.
For further information:
NextEnergy Capital Limited 020 3746 0700
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7719
Robert Peel
Shore Capital 020 7408 4090
Anita Ghanekar
MHP Communications 020 3128 8100
Oliver Hughes
Apex Fund and Corporate Services (Guernsey)
Limited 01481 735827
Nicholas Robilliard
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 30 September 2019, NESF raised equity proceeds of GBP792m
(including GBP200m of preference shares) since its initial public
offering on the main market of the London Stock Exchange in April
2014. The Company's subsidiaries had financial debt outstanding of
GBP211m, on a look-through basis including project level debt. Of
the financial debt, GBP197m was long-term fully amortising debt,
and GBP14m was drawn under a short-term credit facility.
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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