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23 Dec 2019 07:00
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23 December 2019
US SOLAR FUND PLC (USF, the "Company")
SECOND ACQUISITION UPDATE
USF COMPLETES ACQUISITION OF 39MWDC PORTFOLIO OF SIX SOLAR POWER PROJECTS IN NORTH CAROLINA
US Solar Fund plc (LON: USF (USD)/USFP (GBP)) is pleased to announce it has closed the acquisition of 100% of the cash equity interests alongside tax equity financing in six utility-scale solar power projects totaling 39MWDC in North Carolina. The Company announced the acquisition on 10 December 2019 and has progressed to financial close over the course of two weeks.
For further information, please contact:
US Solar Fund Whitney Voûte
| +1 718 230 4329 |
Cenkos Securities plc Will Rogers Rob Naylor Will Talkington
| +44 20 7397 8900 |
KL Communications | +44 20 3995 6673 |
Charles Gorman Charlotte Stickings |
|
About US Solar Fund plc
US Solar Fund plc listed on the premium segment of the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.
The Company will acquire or construct, own and operate solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs).
Further information on the Company can be found on its website at http://www.ussolarfund.co.uk.
About the Investment Manager
USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund which has committed over US$900m to US and Australian solar plants since late 2015.
NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX-listed company (ASX: ED1) with over A$20 billion of funds under advice and management.
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