Sign In
Last checked at 
9 Sep 2014 14:17
9 September 2014
NextEnergy Solar Fund Limited ("NESF")
Agreement to acquire 14.5MWp solar power plant
- Share purchase agreement signed to acquire 14.5MWp Poulshot solar power plant
- Total acquisition value of up to £15.2 million assuming 1.4 ROC accreditation
- Purchase to be completed at commissioning
- Commitment accounts for c. 18% of NESF's IPO proceeds
- Total of c. 90% of IPO proceeds now allocated across seven assets for a total of c. 68MWp
NESF is pleased to announce the signing of the purchase agreement to acquire a special purpose vehicle ("SPV") owning the Poulshot solar power plant ("Poulshot"). Poulshot is located in Wiltshire.
Poulshot will be constructed under an Engineering, Procurement and Construction contract ("EPC") negotiated by NESF. Under the terms of the EPC, Poulshot is to achieve commissioning by February 2015. The plant is to be accredited under the 1.4 Renewable Obligation Certificate regime.
NESF has committed to acquire the SPV, subject to certain timing and performance criteria being achieved, for a total consideration of up to £15.2 million. The capital committed to the acquisition amounts to c. 18% of proceeds raised in NESF's IPO, resulting in a total of c. 90% of IPO proceeds now committed to seven plants.
NextEnergy Capital Limited 020 3239 9054
Michael Bonte-Friedheim
Aldo Beolchini
Cantor Fitzgerald Europe 020 7894 7667
Sue Inglis
Gareth Price
Shore Capital 020 7408 4090
Bidhi Bhoma
Anita Ghanekar
MHP Communications 020 3128 8100
Rupert Trefgarne
Jamie Ricketts
Notes to Editors:
NextEnergy Solar Fund
NextEnergy Solar Fund (www.nextenergysolarfund.com) is a specialist investment fund focused on operational solar photovoltaic ("PV") assets located in the UK. The Company intends to provide investors with a sustainable and attractive dividend that increases in line with RPI over the long term and an element of capital growth through the re-investment of net cash generated in excess of the target dividend.
Further information on NextEnergy Capital and WiseEnergy is available at www.nextenergycapital.com and www.wise-energy.eu.
Follow the stocks
