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US Solar Fund PLC - Americas-focused utility-scale solar power plant investor - June 30 NAV per share USD0.946 versus USD0.972 at the end of 2019. The fund's net assets slipped to USD192.9 million from USD194.4 million six months prior. US Solar's project capacity more than doubled to 443 megawatt from 206 megawatts. Notes 70% of projects are now operating, with remaining portfolio in "very late-stage" construction. Company expects to cash cover remaining 2020 dividends and remains in a strong position to cash cover the full 5.5 US cent dividend in 2021.
Chair Gill Nott said: "As we move toward completing the investment deployment and construction, we are pleased with the progress made toward US Solar Fund's IPO investment goals.
"Despite the global uncertainty brought about by the Covid-19 pandemic, there has been very limited impact on USF's construction or operational activities; policymaker support and consumer demand for cost-effective renewable energy in the US both remain strong."
Current stock price: 75.50 pence
Year-to-date change: down 5.8%
By Paul McGowan; paulmcgowan@alliancenews.com
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