NextEnergy Solar Fund Limited Completes Two acquisitions
NESF is pleased to announce the signing of two separate share purchase agreements, with unrelated counterparties, to acquire special purpose vehicles which own Glebe Farm and Hawkers Farm. Both plants were constructed under Engineering, Procurement and Construction contracts negotiated by NESF's investment advisor, NextEnergy Capital Limited.
Both plants were connected to the grid during March 2015, and are being accredited under the 1.4 Renewable Obligation Certificate ("ROC") regime.
NESF will utilise its revolving credit facility of up to £31.5 million to finance any amounts not covered by its available equity funding and further short-term investment opportunities.
Kevin Lyon, Chairman of NESF, commented:
"We have now deployed all of the equity raised since our IPO a year ago, and have allocated the £61m raised in late February within seven weeks. In total, NESF has acquired 17 individual assets, demonstrating the team's ability to source and execute attractive transactions.
"NESF expects to secure further acquisitions in short order, financed by the debt facility we have in place, and is actively exploring further debt funding sources."