NextEnergy Solar Regulatory News (NESF)

LEI: 213800ZPHCBDDSQH5447

27 October 2021

NextEnergy Solar Fund Limited

("NESF" or the "Company")

NextEnergy Capital Publishes 2021 Sustainable Development Goals Report

NextEnergy Solar Fund, the specialist solar power renewable energy investment company, is pleased to announce that its investment manager, NextEnergy Capital ("NEC") has released its 2021 Sustainable Development Goals (SDG) report.

As we approach COP26, this standalone report continues to demonstrate NEC's commitment to the highest levels of transparency and disclosure, highlighting NEC's contributions to climate change mitigation and to positive global societal impacts, which NESF is part of.

By offering investors an opportunity to decarbonise their portfolio, NEC is consistently facilitating the transition towards sustainable energy while simultaneously contributing to other social targets and community benefits.

Since NESF's IPO in 2014, NEC has successfully recorded its green impact data enabling NESF to report its historical impacts. NEC is proud to confirm that, to date, the NESF portfolio has generated 3,459 GWh of clean, renewable energy to avoid the release of 1,490 k-tons CO2e to the atmosphere, equivalent to powering around 900,000 homes sustainably, and removing more than 500,000 of carbon emitting petrol/diesel cars from the road.

The full SDG report is available to view and download from the NextEnergy Capital website here: https://cdn.next1.nextenergycapital.com/next/2021/10/NextEnergy_SDG_Report20_21.pdf 

Giulia Guidi, Head of ESG at NEC Group, commented:

"With COP26 around the corner, there has never been a more important time to highlight NESF's tangible ESG and sustainability benefits. The UN SDGs are a crucial framework for NEC to consistently measure progress towards our commitment and each year we continue to enhance the transparency of all of our funds' sustainability and ESG reporting. We also continue to work alongside specialist sustainability third party advisors to ensure the quality and accuracy of our data is best in class."

For further information:

Notes to Editors1:

About NextEnergy Solar Fund

NESF is a specialist solar power renewable energy investment company listed on the premium segment of the London Stock Exchange that invests in operating utility-scale solar power plants. The Company may invest up to 30% of its gross asset value in non-UK OECD countries, 15% in solar-focused private equity structures, and 10% in energy storage.

NESF currently has a diversified portfolio comprising 99 operating solar assets (primarily on agricultural, industrial, and commercial sites), and a $50m commitment into NextPower III (a private ESG solar infrastructure fund providing exposure to operating and in-development international solar assets).

The NESF portfolio has a combined installed power capacity of 893MW (including NextPower III MW on an equivalent look-through basis).

As at 30 June 2021, the Company had gross assets of £1,058 million and net assets of £580 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 primarily UK-based solar energy infrastructure assets. The majority of long-term cash flows from its investments are inflation-linked.

For further information on NESF please visit 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.

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 Capital Group ("NEC Group")

NESF is managed by the NextEnergy Capital Group, a specialist solar investment manager, which has a strong track record in sourcing, acquiring, and managing operating solar assets. NEC Group is a leading player in the global solar investment sector and has over 190 team members with offices in UK, Italy, India, and the USA and assets under management of over $2.9bn across three institutional funds.

NextEnergy Capital Group donates at least 5% of its net annual profits to NextEnergy Foundation. NextEnergy Foundation is an international charity that was founded in 2016. Its mission is to participate proactively in the global effort to reduce carbon emissions, provide clean power sources in regions where they are not yet available, and contribute to poverty alleviation.

For further information on NEC Group please visit nextenergycapital.com

For further information on NextEnergy Foundation visit nextenergyfoundation.org

About WiseEnergy

WiseEnergy is NEC Group's specialist operating asset management division. NESF is differentiated by its access to WiseEnergy, which 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 2.2GW.

For further information on Wise Energy please visit wise-energy.com  

[1] Note: All financial data is as at 30 June 2021, being the latest date in respect of which NESF has published financial information