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NextEnergy acquires four plants totalling 20MWp

04 January 2017 07:40

NextEnergy Solar Fund announces the signing of two separate share purchase agreements covering a portfolio of three plants totalling 15MWp and a single 5MWp plant.

The Bowden (5MWp plant located in Somerset), Stalbridge (5MWp plant located in Dorset) and Long Ash Lane (5MWp plant located in Dorset) plants are all under construction and are expected to be connected to the grid in advance of the 31 March 2017 deadline to receive accreditation under the 1.2 Renewable Obligation Certificate ("ROC") regime.

Acquisition of the plants will be completed following full construction and grid connection.

NESF has also signed the share purchase agreement to acquire the Mill Farm solar plant.

The 5MWp plant, located in Hertfordshire, is currently nearing the end of construction and is expected to be accredited under the 1.2 ROC regime. Completion of the acquisition will occur following grid connection of the plant.

HIGHLIGHTS:

- Share purchase agreement exchanged to acquire Bowden, Stalbridge and Long Ash Lane solar plants of 5MWp each

- Separate share purchase agreement exchanged to acquire the 5MWp Mill Farm solar plant

- Completion of all four acquisitions expected in the first half of 2017

- NESF has now secured 38 assets totalling 439 MWp with a total investment value of £506 million since its IPO in April 2014

Story provided by StockMarketWire.com

Related Company: NESF

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