US Solar Fund shares slip as lower production clouds performance

Wed, 26th Nov 2025 14:26

(Alliance News) - US Solar Fund PLC on Wednesday reported a decline in net asset value during the third quarter, pointing to lower-than-expected power generation across its portfolio in the year to date.

The London-based investment firm targets North American solar power plants.

Its NAV amounted to USD198.3 million or 64 US cents per share at September 30, down 1.1% on-quarter from USD200.5 million or 65c per share, as at June 30.

On-year, NAV slipped 14% from USD230.6 million or 75c per share.

US Solar Fund shares were down 5.4% at 25.83 pence on Wednesday afternoon in London.

According to the firm, wait times for new components and "downtime of projects identified for capital initiatives" dragged on quarterly performance, alongside grid outages and site theft.

Over the nine months to the end of September, production among the firm's energy assets fell by 11% due to "technical" factors, and declined a further 0.5% on weather conditions.

The firm intends to keep its focus on solutions for unplanned outages, having avoided further inverter losses through its "spare parts" strategy. Work on two sites singled out for capital investment has completed, US Solar Fund added.

It has declared a third-quarter dividend of 0.875c per share, in line with the new target for a total dividend of 3.5c, which came into effect in the third quarter.

A year earlier, the quarterly payout was 0.56c, with the prior total dividend target being 2.25c.

By Holly Munks, Alliance News reporter

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Us Solar Fund