NextEnergy Solar results for the year ended 31 March 2015 have been published. The NAV rose from 100p to 103.3p over the period. Energy generation was 23.2GW, 4.8% above budget. Lower energy prices than forecast meant that this translated into revenues 1.9% above budget or earnings of 9.13p per share, from which they are paying dividends of 5.25p for the period ended 31 March 2015 and are targeting 6.25p for the current financial year.
They raised a lot of extra money over the period and since and finished up with 16 sites capable of generating 217MWp. The investment manager has a pipeline of new projects totalling 200MWp.
NESF : NextEnergy Solar beats budget