NextEnergy Solar Fund Limited agrees to acquire 14.5MW solar power plant

NextEnergy Solar Fund Limited (NESF) has announced the signing of the purchase agreement to acquire the 14.5MWp Poulshot solar power plant. Poulshot is located in Wiltshire, a county in South West England.

The total acquisition value is of up to £15.2 million assuming 1.4 ROC accreditation. The purchase to be completed at commissioning of the plant.

Poulshot will be constructed under an Engineering, Procurement and Construction contract (EPC) negotiated by NESF. Under the terms of the EPC, Poulshot is to achieve commissioning by February 2015. The plant is to be accredited under the 1.4 Renewable Obligation Certificate regime.

NESF has committed to acquire the SPV, subject to certain timing and performance criteria being achieved. The capital committed to the acquisition amounts to c. 18% of proceeds raised in NESF's IPO, resulting in a total of c. 90% of IPO proceeds now committed to seven plants.

NextEnergy Solar Fund is a specialist investment fund focused on operational solar photovoltaic (PV) assets located in the UK. The company intends to provide investors with a sustainable and attractive dividend that increases in line with RPI over the long term and an element of capital growth through the re-investment of net cash generated in excess of the target dividend.