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NextEnergy acquires five-plant portfolio

05 April 2016 07:29

Next Energy Solar Fund has agreed to acquire a portfolio of five operating plants for a total net consideration of GBP97.9m, plus working capital. It expects the deal to complete by mid-April.

The acquisition will be partially financed via a long-term fully-amortising project financing, secured solely by the Portfolio, of £55 million.

The Project Financing has been arranged for NESF by Macquarie Infrastructure Debt Investment Solutions ("MIDIS") and expires in 2034.

The Company will fund the remainder of the total net consideration from available cash from operations and via a further drawdown from its existing RCF.

The portfolio comprises the Great Wilbraham (38.1MWp), Branston (18.9MWp), Bottom Plain (10.1MWp), Emberton (9.0MWp) and Berwick (8.2MWp).

Story provided by StockMarketWire.com

Related Company: NESF

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