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NESF : NextEnergy results highlight growth potential
NextEnergy Solar has published its first set of results – interims covering the period from 20 December 2013 to 30 September 2014. The net asset value increased from 100p to 103.1p over this period. they bought seven solar farms, with production capacity of 68MW, spending 94% of the money they raised at IPO and they also secured a revolving credit facility worth £31.5m to fund further expansion.
Since the end of the period they have added an eighth plant, identified a further 12 projects that they want to buy (which would bring them an additional 1814MW for a price of £210m), declared a dividend of 2.625p and embarked on a plan to issue up to 250m new shares.