NextEnergy Solar to buy 28 MW of UK projects for GBP 33m
UK solar park. Author: Robert Pittman. License: Creative Commons, Attribution-NoDerivs 2.0 Generic
Dec 22, 2014 - UK-based NextEnergy Solar Fund Ltd (LON:NESF) said today it has signed two deals to acquire 28-MWp of solar projects at home for a total of GBP 32.7 million (USD 51m/EUR 41.7m).
NextEnergy Solar will buy the 20-MWp Cock Hill project in Wiltshire for GBP 23.3 million and will pay a further GBP 9.4 million for the 8-MWp Llwyndu scheme in Mid Wales. The company noted it has the right to cancel the deals if the two plants are not completed by March 2015 and fail to qualify for 1.4 Renewable Obligation Certificates (ROCs) per MWh.
Including the new purchases, NESF’s portfolio now consist of ten assets with a combined capacity of about 106 MWp. Their total investment value is estimated at around GBP 125 million, which corresponds to 69% of the equity proceeds raised by the company to date.
On Friday, NESF said it has closed the sale of 4 million new ordinary shares, thereby raising a further GBP 4.1 million gross from its previously announced placement programme.