NESF signs agreement to acquire two solar power plants totalling 28.0 MWp

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NESF signs agreement to acquire two solar power plants totalling 28.0 MWp

NextEnergy Solar Fund (NESF) has signed two share purchase agreements (SPA) to acquire two UK special purpose vehicles totalling 28.0 MWp, respectively owning the Cock Hill and Llwyndu solar power plant projects.

Both plants will be constructed under separate engineering, procurement and construction (EPC) contracts negotiated by NESF's Investment Advisor, NextEnergy Capital Limited.

The Cock Hill plant is located in Wiltshire, and is to be accredited under the 1.4 renewable obligation certificate (ROC) regime. Construction of the plant has already begun, with internal roads and civil works well advanced and 90% of mounting system piles already installed.

The Llwyndu plant is located in Mid Wales, and is also to be accredited under the 1.4 ROC regime. Construction on Llwyndu is also underway, with the construction team having broken ground with almost 40% of mounting system piles already installed.

Both plants are to be connected to the grid by March 2015. In the event either plant does not achieve the expected ROC regime, NESF has the right to terminate the respective SPA without incurring any financial penalties.

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