NextEnergy Solar Fund (NESF) has announced that it has signed and exchanged two separate share purchase agreements to purchase four plants for a total of £21m. The first agreement covers a portfolio of three solar plants (Bowden, Stalbridge and Long Ash Lane) of 5MWp each. The second agreement covers the 5MWp Mill Farm solar plant. NESF says that it expects that the completion of all four acquisitions will occur in the first half of 2017. NESF says that, including these acquisitions, it has now secured 38 assets totalling 439 MWp with a total investment value of £506 million since its IPO in April 2014.
NESF says that 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 also advises that the Mill Farm solar 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 also occur following grid connection of the plant.
NextEnergy Solar Fund acquires four plants, totalling 20MWp, for £21m : NESF