Overview
NextEnergy Solar Fund aims to provide its shareholders with attractive risk-adjusted returns, principally in the form of regular dividends, by investing in a diversified portfolio of primarily UK-based solar energy infrastructure assets. The intention was that most of the return would come as dividends. Following shareholder approval for a revised investment policy in September 2020, the company has the freedom to invest up to 30% of gross assets in other OECD countries outside the UK. It can also invest up to 15% in solar-focused private equity structures, and 10% in energy storage.
We have published notes that explain more about what the fund is trying to achieve
High and growing income opportunity, was published on 7 March 2024
Recycling champion was published on 12 July 2023
Earnings visibility underpins dividend target was published on 13 December 2022
Climbing inflation and power prices driving NAV uplift was published 9 February 2022 and is our initiation note
You can access the fund’s website here
Fundamentals
Price
Research History
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07 Mar 2024 8 min read
NextEnergy Solar Fund – High- and growing-income opportunity
NextEnergy Solar Fund Investment companies | Update | 7 March 2024 High- and growing-income opportunity NextEnergy Solar Fund (NESF) is almost 10 years old. Since launch, it has built a £1.2bn, 933MW portfolio of 100 operating solar assets, powering the equivalent of over 330,000 homes, declared dividends totalling £333m, and avoided the emission of about […]
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8 min read
NextEnergy Solar Fund – High- and growing-income opportunity
NextEnergy Solar Fund Investment Companies | Update | 7 March 2024 High- and growing-income opportunity NextEnergy Solar Fund (NESF) is almost 10 years old. Since launch, it has built a £1.2bn, 933MW portfolio of 100 operating solar assets, powering the equivalent of over 330,000 homes, declared dividends totalling £333m, and avoided the emission of about […]
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8 min read
NextEnergy Solar Fund – High- and growing-income opportunity?
NextEnergy Solar Fund Investment companies | Update | 7 March 2024 High- and growing-income opportunity? NextEnergy Solar Fund (NESF) is almost 10 years old. Since launch, it has built a £1.2bn, 933MW portfolio of 100 operating solar assets, powering the equivalent of over 330,000 homes, declared dividends totalling £333m, and avoided the emission of about […]
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02 Feb 2024 1 min read
Interview with Ross Grier from NextEnergy Capital
In this week’s show, James Carthew spoke to Ross Grier from NextEnergy Capital. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news, click here. If there is a guest speaker you’d particularly like to hear from, please email us on [email protected]. Additionally, if you would prefer to […]
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12 Jul 2023 9 min read
NextEnergy Solar Fund – Recycling champion
NextEnergy Solar Fund Investment companies | Update | 12 July 2023 Recycling champion From an operational standpoint, NextEnergy Solar Fund (NESF) is doing well. As we discuss on page 5 of this note, the board, encouraged by a high proportion of predictable revenue, has felt comfortable in declaring an inflation-matching 11% increase in NESF’s dividend […]
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9 min read
NextEnergy Solar Fund – Recycling champion
NextEnergy Solar Fund Investment companies | Update | 12 July 2023 Recycling champion From an operational standpoint, NextEnergy Solar Fund (NESF) is doing well. As we discuss on page 4 of this note, the board, encouraged by a high proportion of predictable revenue, has felt comfortable in declaring an inflation-matching 11% increase in NESF’s dividend, […]
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8 min read
NextEnergy Solar Fund – Recycling champion
NextEnergy Solar Fund Investment companies | Update | 12 July 2023 Recycling champion From an operational standpoint, NextEnergy Solar Fund (NESF) seems to be doing well. As is discussed on page 4 of this note, the board, encouraged by a high proportion of predictable revenue, has felt comfortable in declaring an inflation-matching 11% increase in […]
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12 Dec 2022 10 min read
NextEnergy Solar Fund – Earnings visibility underpins dividend target
NextEnergy Solar Fund Investment companies | Update | 13 December 2022 Earnings visibility underpins dividend target It has been a busy few months for NextEnergy Solar Fund (NESF) and the listed renewable energy sector. The share price may have come under pressure from the threat of rising discount rates and windfall taxes, but the picture […]
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10 min read
NextEnergy Solar Fund – Earnings visibility underpins dividend target
NextEnergy Solar Fund Investment companies | Update | 13 December 2022 Earnings visibility underpins dividend target It has been a busy few months for NextEnergy Solar Fund (NESF) and the listed renewable energy sector. NESF’s share price may have come under pressure from the threat of rising discount rates (as interest rates rise, its NAV […]
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10 min read
NextEnergy Solar Fund – Earnings visibility underpins dividend target
NextEnergy Solar Fund Investment companies | Update | 13 December 2022 Earnings visibility underpins dividend target It has been a busy few months for NextEnergy Solar Fund (NESF) and the listed renewable energy sector. The share price may have come under pressure from the threat of windfall taxes – see page 6 – and rising […]
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09 Feb 2022 8 min read
NextEnergy Solar Fund – Climbing inflation and power prices driving NAV uplift
Climbing inflation and power prices driving NAV uplift NextEnergy Solar Fund (NESF) is a leading investor in the UK solar market. In addition, since investors approved a broadening of its investment policy in 2020, it has added exposure to battery storage and to solar assets in other OECD countries, leveraging the global expertise of its […]
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7 min read
NextEnergy Solar Fund – Climbing inflation and power prices driving NAV uplift
Climbing inflation and power prices driving NAV uplift NextEnergy Solar Fund (NESF) is a leading investor in the UK solar market. In addition, since investors approved a broadening of its investment policy in 2020, it has added exposure to battery storage and to solar assets in other OECD countries, leveraging the global expertise of its […]
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7 min read
NextEnergy Solar Fund – Climbing inflation and power prices driving NAV uplift
Climbing inflation and power prices driving NAV uplift NextEnergy Solar Fund (NESF) is a leading investor in the UK solar power market. In addition, since investors approved a broadening of its investment policy in 2020, it has added exposure to battery storage and to solar assets in other OECD countries, leveraging the global expertise of […]
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26 Nov 2021 2 min read
QuotedData’s ESG Webinar – Environmental Day Playback
On the 16th November QuotedData hosted the first of three ESG focused webinars. This Environmental webinar began with opening remarks from Natalie Kenway of ESG Clarity and Julia Dreblow of SRI Services. We would like to thank all our speakers and our attendees for joining us. Opening Remarks – Natalie Kenway (ESG Clarity) and Julia […]
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06 Nov 2020 1 min read
Interview with Michael Bonte-Friedheim of NextEnergy Solar
In this week’s show, James Carthew talked to Michael Bonte-Friedheim of NextEnergy Solar Watch it again here If you were looking for James Carthew’s roundup of the week’s news, this is now in the news section – just click here If there is a guest speaker you’d particularly like to hear from, please email us – [email protected]. […]
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06 Dec 2019 5 min read
QuotedData’s economic roundup – December 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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05 Jul 2019 6 min read
QuotedData’s economic roundup – July 2019
Economic & Political Roundup A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any of the […]
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18 Jan 2019 1 min read
QuotedData’s investment companies roundup – January 2019
QuotedData’s investment companies roundup – January 2019 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2018. Kindly sponsored by Baillie Gifford. Extract from money raised and returned in December The only new issue […]
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19 Dec 2018 1 min read
QuotedData’s economic roundup – December 2018
QuotedData’s economic roundup – December 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell any […]
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16 Oct 2018 2 min read
Quarterly Investment Companies Roundup – Third Quarter 2018
Quarterly Investment Companies Roundup – Third Quarter 2018 Global equities delivered positive returns over the third quarter of 2018. This was principally because of strength in the US market. Political uncertainty and concerns about global trade held back other regions. Generally, government bond yields rose over the quarter. The UK equity market fell as the Bank of […]
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14 Sep 2018 1 min read
QuotedData’s investment companies roundup – September 2018
QuotedData’s investment companies roundup – September 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in August GRIT Real Estate Income floated on the UK Stock Exchange in […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 Jul 2018 1 min read
QuotedData’s investment companies roundup – July 2018
QuotedData’s investment companies roundup – July 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2018. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised and returned in June Newcomer to the market, Yew Grove […]
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1 min read
QuotedData’s Economic round up – July 2018
QuotedData’s Economic round up – July 2018 is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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11 Jun 2018 1 min read
QuotedData’s investment companies roundup – June 2018
QuotedData’s investment companies roundup – June 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of May 2018. Kindly sponsored by Baillie Gifford. The premium of biotech company, Syncona, rose on positive news on two of its […]
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10 Jan 2018 2 min read
QuotedData investment companies roundup – January 2018
QuotedData investment companies roundup – January 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of December 2017. Kindly sponsored by Baillie Gifford. January Investment Companies Roundup Winners and losers in December Infrastructure India’s share price […]
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11 Dec 2017 1 min read
QuotedData’s economic round up – December 2017
QuotedData’s economic round up – December 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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2 min read
QuotedData investment companies roundup – December 2017
QuotedData investment companies roundup – December 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2017. Kindly sponsored by Baillie Gifford. December Investment Companies Roundup Money raised and returned in November There were no […]
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19 Oct 2017 1 min read
Quarterly investment companies roundup – Third quarter 2017
Quarterly investment companies roundup – Third quarter 2017 – Markets moved up a little over the course of the three months ended 30 September 2017. Regionally, emerging markets did well. The pound strengthened a bit relative to the US dollar but was flat against the euro. The oil price rose by more than 20%. In […]
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14 Sep 2017 1 min read
QuotedData investment companies roundup – September 2017
QuotedData investment companies roundup – September 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2017. Kindly sponsored by Baillie Gifford. September Investment Companies Roundup Winners and losers in August Ashmore Global’s […]
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12 Jul 2017 2 min read
QuotedData investment companies roundup – July 2017
QuotedData investment companies roundup – July 2017 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of June 2017. Kindly sponsored by Baillie Gifford. July Investment Companies Roundup Money raised in July Newly launched in June were […]
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2 min read
QuotedData’s economic round up – July 2017
QuotedData’s economic round up – July 2017 – is a collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or […]
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16 May 2017 2 min read
QuotedData investment companies roundup – May 2017
QuotedData investment companies roundup: Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2017. Kindly sponsored by Baillie Gifford. Money in: The only new launch in April was EJF Investments, a £69m fund trying to take advantage of […]
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14 Feb 2017 1 min read
QuotedData investment companies roundup – February 2017
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of January 2017. Kindly sponsored by Baillie Gifford. February Investment Companies Roundup
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31 Jan 2017 1 min read
QuotedData – 2016 review of the year
Our review of 2016 includes performance data, significant moves in discounts and premiums, money raised and money handed back, major news stories and links to the research we have published including our guide to investment companies. 2016 Annual roundup
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07 Dec 2016 1 min read
QuotedData investment companies roundup – December 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of November 2016. december-investment-companies-roundup
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13 Oct 2016 1 min read
QuotedData investment companies roundup – October 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of September 2016. october-investment-companies-roundup
News
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14 Aug 2024 2 min read
QuotedData’s morning briefing 14 August 2024 – HOME, HMSO, DSM, NESF, RCOI
In QuotedData’s morning briefing 14 August 2024: Home REIT says that it has reached an agreement with Mansit Housing CIC, a non-performing tenant, for the surrender of its leases on 68 properties. The majority of the properties are occupied by private rented sector tenants on Assured Shorthold Tenancies. This should boost Home REIT’s rental income. […]
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13 Aug 2024 1 min read
QuotedData’s morning briefing 13 August 2024 – NESF, SYNC, WTAN, DGI9, VSL
In QuotedData’s morning briefing 13 August 2024: Pleasingly, at yesterday’s AGM, NextEnergy Solar Fund’s (NESF) shareholders overwhelmingly backed the company (94:6) to carry on with its existing objective. Syncona’s (SYNC) NAV has slipped again – by 4.9% over the three months ended 30 June. The value of its life science portfolio fell by 8.3% and […]
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24 Jun 2024 1 min read
QuotedData’s weekly news show 21st June 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. On Friday’s weekly show, James Carthew covered last week’s top stories: • Home REIT • NextEnergy Solar Fund We hosted a panel discussion between Nick Greenwood from MIGO Opportunities, Peter Hewitt from Columbia Threadneedle & Ben Ritchie from […]
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19 Jun 2024 2 min read
NextEnergy Solar publishes third standalone sustainability & ESG report
In addition to the publication of its annual results today (click here to see our coverage of these), NextEnergy Solar Fund (NESF) has published its third standalone annual sustainability & ESG report – also for the year ended 31 March 2024. The report, which you can read here, runs to over 70 pages and contains […]
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4 min read
NextEnergy Solar shows resilience in face of sectoral challenges
NextEnergy Solar Fund (NESF) has published its annual results for the year ended 31 March 2024. In what is her first annual report as NESF’s chairwoman, Helen Mahy says that the continued macroeconomic backdrop has presented challenges to the sector, but she is encouraged that NESF has continued to show resilience having achieved multiple key […]
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2 min read
NextEnergy Solar sells Whitecross and launches £20m buyback programme
NextEnergy Solar Fund has sold its Whitecross solar plant, completing Phase II of its capital recycling programme and freeing up capital to put to other uses (see below). Highlights: Whitecross, located in Lincolnshire, UK, is a 35.22MW utility-scale solar asset that was developed as part of the company’s self-developed project pipeline and energised late last […]
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31 May 2024 4 min read
Dividend royalty: Our top 4 income payers to beat inflation and optimise returns
This week’s QD view looks at four investment companies that offer attractive dividend yields Inflation has become a painful reality for many, impacting everything from rent and mortgages to groceries. This ongoing cost-of-living crisis underscores the importance of making your money work harder for you, particularly for those who rely on their investments for income. […]
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15 May 2024 2 min read
QuotedData’s morning briefing 15 May – RTW, GIF, NESF, IHR
In QuotedData’s morning briefing 15 May 2024: RTW Biotech Opportunities (RTW) portfolio company, Lycia Therapeutics, announced the completion of a $106.6m Series C financing round. The company, alongside other investment vehicles managed by RTW Investments LP, participated in the financing round with other life science investment firms. Gulf Investment Fund (GIF) announced that it has […]
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10 May 2024 1 min read
NextEnergy Solar Fund improves RCF terms
NextEnergy Solar Fund (NESF) has extended its existing £70m short-term revolving credit facility (RCF) with Santander, that was previously due to expire in June 2024. The £70m RCF extension is now available until June 2025 and benefits from improved terms with a margin of 150bps over SONIA (Sterling Overnight Index Average) compared with 160bps over […]
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03 May 2024 1 min read
NextEnergy Solar Fund: Market leading solar energy & energy storage fund
NextEnergy Solar Fund (NESF) is a market leading solar energy and energy storage fund, driven by a mission to lead the transition to clean energy. Learn more about NESF through the video and website linked below, or get in touch with: [email protected] or check our website: NextEnergy Solar Fund.
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18 Apr 2024 1 min read
QD view: Our search for income – a deep dive presentation on the renewable and infrastructure sectors
In this video, Edward Marten CEO of QuotedData and James Carthew head of investment companies talk about the search for income, and where to find attractive opportunities in the current market. Their presentation (at Master Investor, the UK’s largest private investor show, on the QuotedData stage) explains why it’s worth taking a fresh look at […]
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16 Apr 2024 1 min read
QuotedData’s morning briefing 16 April 2024 – NESF, SEED, RGL
In QuotedData’s morning briefing 16 April 2024: NextEnergy Solar Fund (NESF) announced it has refinanced its existing £135m short-term Revolving Credit Facility with AIB Group and NatWest which is due to expire in June 2024. The new facility is available until June 2026 and provides two additional 12-month extension options at NESF’s sole discretion to […]
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19 Mar 2024 2 min read
NextEnergy Solar Fund reaches 1GW milestone
NextEnergy Solar Fund (NESF) has announced that it has successfully begun commercial operations at its standalone 50MW energy storage asset, named Camilla. This is a significant milestone for the company as it increases NESF’s total installed net capacity above 1GW to 1,014MW. Camilla connected to the National Grid in December 2023 and progressed successfully through […]
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15 Mar 2024 2 min read
NextEnergy Solar’s first two international solar co-investments energised
NextEnergy Solar Fund’s (NESF’s) first two international solar co-investments alongside NextPower III ESG (NPIII ESG) have been energised, bringing an additional 260MW of generation capacity online in Europe and increasing NESF’s total installed net capacity to 979MW. The two assets are a 210MW solar project located in Santarém, Portugal (known as Santarém), and a 50MW […]
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29 Feb 2024 2 min read
QuotedData’s morning briefing 29 February 2024 – NESF, LXI, SRE, JUGI
In QuotedData’s morning briefing 29 February 2024: NextEnergy Solar Fund (NESF) has provided a quarterly NAV and operational update for the three months ending 31 December 2023. As of the year end, its NAV per share was 107.7p, equal to a total NAV of £636.4m. This represented a fall in NAV over the three months, […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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01 Dec 2023 3 min read
QD view – a sector in turmoil
Another week, another bout of corporate activity. Subject to shareholder approval, abrdn China is to be absorbed by Fidelity China Special Situations, and Troy Income and Growth will merge with STS Global Income and Growth. In addition, abrdn European Logistics Income announced a strategic review, Downing Renewables and Infrastructure Trust said that it would consider […]
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22 Nov 2023 2 min read
NextEnergy Solar Fund begins discount management strategy
NextEnergy Solar Fund (NESF) announced its interim results for the period ended 30 September 2023. The NAV fell by 5.2% while shares fell 6.6%, further widening the company’s discount to around 21%. The company raised its dividend by around 13% on the year prior. The company has taken steps to manage its discount, introducing a […]
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10 Oct 2023 1 min read
QuotedData’s Investment Trust Forum 2023
Welcome to the videos from the Investment Trust Forum 2023. The conference was for investment analysts, research committees and portfolio managers from all the major asset management groups, banks, stockbrokers, wealth managers and IFA networks and offered presentations and panel discussions on a range of topics. We were pleased to have panel sponsorship from Witan […]
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18 Aug 2023 1 min read
QuotedData’s weekly news update 18th August 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Thomas Lloyd Energy Impact (0:57) • Riverstone Energy (18:40) • Bluefield Solar (22:25) • NextEnergy Solar (27:16) • Ediston Property (30:16) • Empiric Student […]
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17 Aug 2023 2 min read
NextEnergy Solar NAV dips on higher discount rate
NextEnergy Solar has published its end June 2023 NAV. The NAV has slipped to 109.3p from 114.3p over the second quarter of 2023. The most significant factor in this was a decision to increase the discount rate used to value NESF’s future cash flows by 0.75%, to reflect higher interest rates. The company has also […]
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26 Jul 2023 1 min read
NextEnergy Solar publishes updated sustainability report
NextEnergy Solar has today published its latest sustainability and ESG report, which you can read here. This report builds on NESF’s first sustainability and ESG report published in 2022 and illustrates the breadth and depth of actions that the company has taken across the three pillars that comprise its approach to sustainability and ESG – […]
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19 Jun 2023 3 min read
Another sunny year for NextEnergy Solar
NextEnergy Solar Fund (NESF) has released its annual report for the financial year ending 31 March 2023. Highlights are: NAV growth of 0.9%, with a NAV per share of 114.3p, as of 31 March 2023 (a breakdown of the major factors influencing the NAV is shown below). An NAV total return of 7.3% and a […]
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12 May 2023 1 min read
QuotedData’s weekly news show 12th May 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Reed and Richard Williams covered the week’s top stories: Update on Renewables Octopus Renewables Infrastructure (1:30) Bluefield Solar (6:13) NextEnergy Solar (7:18) HydrogenOne (9:36) US Solar no longer up for sale […]
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1 min read
NESF announces its 10th consecutive dividend increase, and accounting error
The board of NextEnergy Solar Fund (NESF) has approved a dividend target of 8.35p, representing an 11% increase from the previous year’s dividend of 7.52p. This will represent NESF’s 10th consecutive dividend increase, with NESF paying a total of £305.8m in dividends since its IPO, or 55.72p per share, fulfilling its progressive dividend objective. NESF […]
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28 Apr 2023 1 min read
QuotedData’s weekly news show 28th April 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • NextEnergy Solar (0:35) • Round Hill Music (5:52) • ThomasLloyd Energy Impact (14:05) This week’s interview was with Craig Baker from Alliance Trust – watch it again […]
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27 Apr 2023 2 min read
NextEnergy accelerates growth with sale of subsidy-free solar portfolio
NextEnergy Solar Fund is to recycle the capital invested in its subsidy-free solar assets, redeploying the cash to cut borrowing, invest in new projects and buy back shares. It aims to crystallise the value that it has created within its 236MW portfolio of subsidy-free UK solar assets. The proceeds will be used to: reduce gearing: […]
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04 Apr 2023 1 min read
Continued expansion for NextEnergy Solar
NextEnergy Solar Fund (NESF), the specialist solar fund, announced that its second international solar co-investment named Santarém, a 210MW project in Portugal in which NESF holds a 13% stake, has signed a long-term Power Purchase Agreement with Statkraft, a leading renewable producer in Europe’s energy market. Under the agreement, Statkraft will acquire electricity production from […]
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01 Mar 2023 2 min read
QuotedData’s morning briefing 1 March 2023
In QuotedData’s morning briefing 1 March 2023: Aquila Energy Efficiency (AEEE/AEET) did fail its continuation vote (as flagged 27 August). By 28 August 2023 (six months after the meeting), the directors will recommend to shareholders whether the company be reconstructed, re-organised or placed into liquidation, having explored all options and determined the best solution including […]
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24 Feb 2023 7 min read
QD view – In search of storage solutions
The need to decarbonise the global economy to address the myriad issues that are being created by climate change is now well understood. For this, a range of solutions is required but it is clear that for many economies, the UK included, renewables – primarily solar and wind but with smaller contributions from other technologies […]
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1 min read
QuotedData’s weekly news show 24th February 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Harmony Energy Income Trust (0:42) • NextEnergy Solar (8:10) This week’s interview was with Jean Hugues de Lamaze from Ecofin Global Utilities and Infrastructure […]
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22 Feb 2023 1 min read
NextEnergy Solar details proposed energy storage strategy
NextEnergy Solar Fund (NESF) has today published information for investors regarding its proposed energy storage strategy. The document provides details on how NESF will take advantage of energy storage opportunities in the UK to complement and diversify its existing large portfolio of 99 solar assets. The report is comprehensive and so we would recommend readers […]
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10 Jan 2023 1 min read
NextPower III makes first investments in Greece
NextEnergy Solar has a $50m commitment to NextPower III ESG which is getting closer to being fully invested. It has just announced its first strategic solar and battery storage acquisitions in Greece. The acquisitions include six utility-scale solar PV projects totalling 132MWp, and a majority in six standalone battery storage projects totalling 400MW. NextEnergy Group, […]
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30 Nov 2022 2 min read
QuotedData’s morning briefing 30 November 2022
In QuotedData’s morning briefing 30 November 2022: NextEnergy Solar (NESF) has announced that, as part of its succession planning, Helen Mahy CBE has been appointed as a non-executive director of the company with effect from 1 April 2023. Helen will succeed Kevin Lyon as Chairman of NESF from the next AGM in August 2023. Kevin has […]
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25 Nov 2022 1 min read
QuotedData’s weekly news show 25th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Renewables/infrastructure NAVs • Digital 9 Infrastructure • NB Global Monthly Income • Home REIT This week’s interview was with Bruce Stout from Murray International […]
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21 Nov 2022 3 min read
NextEnergy Solar grows NAV and outperforms generation budget
NextEnergy Solar Fund (NESF) has published its interim results for the six months ended 30 September 2022. The period saw NESF’s NAV per share increase by 8.3% to 122.9p, up from 113.5p as at 31 March 2022. The main contributors to the increase in the NAV were an increase in power price forecast assumptions (+12.0p […]
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18 Nov 2022 1 min read
QuotedData’s weekly news show 18th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Long Term Assets • Renewables windfall tax This week’s interview was with Jeff O’Dwyer from Schroder European REIT – watch it again here. previous […]
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17 Nov 2022 1 min read
45% windfall tax on renewable electricity from 1 January 2023
45% windfall tax on renewable electricity from 1 January 2023 A new electricity generator levy will come into force from 1 January 2023 and run until 31 March 2028. The levy will be a new 45% tax on extraordinary revenues above a pre-crisis price baseline of £75 per MWh made by certain renewable, nuclear and […]
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07 Nov 2022 2 min read
QuotedData’s Morning briefing 7 November 2022
In QuotedData’s Morning briefing 7 November 2022: ICG Enterprise Trust (ICGT) has announced a $15m commitment to Clayton, Dubilier and Rice Fund XII . This is ICGT’s second commitment to funds managed by CD&R, following a $10m commitment to CD&R XI in 2020. CD&R is a global investment firm, headquartered in New York, that executes a […]
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31 Oct 2022 1 min read
NextEnergy Solar Fund acquired 250MW battery storage project
NextEnergy Solar Fund (NESF) has announced it has acquired the development rights, permits, and initial grid milestones for a 250MW portfolio of high-quality battery storage projects and grid connections, with the project having secured planning permission and grid connection rights. The strategic portfolio named ‘Project Lion’, located in the East of England, was acquired for […]
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30 Sep 2022 5 min read
QuotedData’s morning briefing 30 September 2022
In QuotedData’s morning briefing 30 September 2022: NextEnergy Solar Fund (NESF) has announced that it has increased the commitments available under its Revolving Credit Facility (RCF) with AIB Group (UK) Plc and NatWest from £75m to £135m – an increase of £60m. The additional commitments have been agreed at a margin of 120bps over SONIA […]
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12 Sep 2022 2 min read
NextEnergy Solar enters new joint venture partnership with Eelpower
NextEnergy Solar enters new joint venture partnership with Eelpower – NextEnergy Solar (NESF) has entered a new £200m Joint Venture Partnership (JVP2) with Eelpower, a privately held constructor-owner-operator in the new and rapidly growing electricity storage market. JVP2 reflects the successful relationship built with Eelpower, offering enhanced terms by increasing NESF ownership to 75%, with […]
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09 Sep 2022 1 min read
QuotedData’s weekly news show 9th September 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Welkin China Private Equity • UK renewables This week’s interview was with Joe Bauernfreund from AVI Global Trust – watch it again here.
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22 Aug 2022 3 min read
QuotedData’s morning briefing 22 August 2022
In QuotedData’s morning briefing 22 August 2022: AEW UK REIT (AEWU) has sold 225 Bath Street, Glasgow for £9,300,000. Planning consent has been gained by new owners IQ for the demolition of the property and development of a 527-unit student accommodation scheme. The sale agreement required AEWU to negotiate with tenants to bring the asset […]
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03 Aug 2022 1 min read
NextEnergy Solar secures subsidised UK solar contracts
NextEnergy Solar secures subsidised UK solar contracts – NextEnergy Solar (NESF) has secured additional subsidised solar contracts in the UK comprising contracts on 86MW of planned additional capacity through the fourth Contracts for Difference (CfD) Allocation Round (AR4) announced last month. The CfDs have been secured for 100% of the generating capacity of Whitecross (36MW) […]
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21 Jul 2022 1 min read
QuotedData’s morning briefing 21 July 2022
In QuotedData’s morning briefing 21 July 2022: NB Global Monthly Income (NBMI) is increasing its target distribution rate to 6.75% of NAV per year for the rest of 2022. The increase reflects the positive effect of rising interest rates (especially higher US rates – US loans account for about 80% of the fund) on the […]
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11 Jul 2022 1 min read
Fund Manager Brief: Michael Bonte-Friedheim, NextEnergy Capital
Michael Bonte-Friedheim – Founding Partner and Group Chief Executive Officer Michael founded NextEnergy Capital in 2007. Prior to this, he was a managing director in the European Energy & Power Team in the European Investment Banking Department of Goldman Sachs. He held similar roles earlier in this career at Morgan Stanley and Credit Suisse First […]
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1 min read
Fund Brief: NextEnergy Solar Fund
About NextEnergy Solar Fund NextEnergy Solar Fund seeks to provide ordinary shareholders with attractive risk-adjusted returns, principally in the form of regular dividends, by investing in a diversified portfolio of primarily UK-based solar energy infrastructure assets. The Company seeks to achieve its investment objective by investing predominantly in solar PV assets, primarily in the UK. […]
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07 Jul 2022 1 min read
Renewables auction round 4 results
The results of the fourth round of the UK’s subsidy auction have been announced. They include 7GW of new offshore wind coming at a price of £37.35/MWh, 2.2GW of solar, almost 900MW of onshore wind and new tidal stream and floating offshore wind projects. A full list of approved projects is available here. We note […]
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05 Jul 2022 1 min read
QuotedData’s morning briefing 5 July 2022
In QuotedData’s morning briefing 5 July 2022: NextEnergy Solar Fund (NESF) has signed a two-year extension to its existing £70m revolving credit facility (RCF) with Santander UK. The revised facility comes with a margin of 160bps (1.6%) over SONIA, including an uncommitted option to extend the facility term for an additional twelve months if required. […]
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28 Jun 2022 1 min read
NextPower III ESG has over 1GW of capacity
NextPower III ESG, the international private solar fund backed by NextEnergy Solar Fund (NESF) and others, is buying two 100MW solar projects in Lake Placid, Florida. This deal takes the fund’s total capacity in the USA to 397MW. The two 100MW solar projects will benefit from long-term Power Purchase Agreements (PPAs) for 100% of their […]
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27 Jun 2022 3 min read
Impressive results from NextEnergy Solar
NextEnergy Solar Fund reports that, for the 12 months ended 31 March 2022 it produced: a 14.6p (c.15%) increase in its NAV to 113.5p, contributing to a total return on NAV of 22.0% a return to shareholders of 11% [a discount opened up on the shares that is out of line with competing funds and […]
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09 Jun 2022 2 min read
QuotedData’s morning briefing 9 June 2022
In QuotedData’s morning briefing 9 June 2022: NextEnergy Solar Fund (NESF) now has its hundredth operating solar asset, an 181kW commercial rooftop solar power asset located on a Holiday Inn in Nottinghamshire. The asset benefits from an attractive 25-year power purchase agreement for 100% of its generated volume. This is the final investment under the […]
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27 May 2022 1 min read
QuotedData’s weekly news show 27th May 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Windfall taxes: NextEnergy Solar, Greencoat UK Wind, Bluefield Solar • Fundraising: Gresham House Energy Storage, Home REIT This week’s interview was with Paul Bridge […]
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1 min read
QuotedData’s morning briefing 27 May 2022
In QuotedData’s morning briefing 27 May 2022: Worldwide Healthcare (WWH) has announced that it is terminating its placing programme, which was established on 13 July 2021, with immediate effect. WWH expects to publish its annual results later today and, if the placing programme was still in effect, this would have required WWH to publish a […]
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11 May 2022 1 min read
NextEnergy Solar reports positive performance for first quarter of 2022
NextEnergy Solar reports positive performance for first quarter of 2022 – NextEnergy Solar (NESF) has announced an 8.7% quarterly increase in its unaudited NAV per ordinary share from 104.4p as at 31 December to 113.5p as at 31 March 2022 and an interim dividend of 1.79p per ordinary share for the three-month period. Meanwhile the […]
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09 May 2022 1 min read
QuotedData’s morning briefing 9 May 2022
In QuotedData’s morning briefing 9 May 2022: CIP Merchant Capital (CIP) has applied for the cancellation of admission to trading on AIM of its ordinary shares.This follows the announcements on 1 and 20 April 2022 by Corporation Financière Européenne declaring its final offer for CIP to be wholly unconditional and confirming that there would be […]
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26 Apr 2022 2 min read
QuotedData’s morning briefing 26 April 2022
In QuotedData’s morning briefing 26 April 2022: NextEnergy Solar Fund (NESF) has selected North Norfolk solar farm as the site for its first co-located battery storage project. The existing 11MW solar farm will sit alongside a 6MW/12MWh battery system. Planning permission for the co-located battery system has been secured, with construction expected to commence on […]
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22 Apr 2022 1 min read
QuotedData’s weekly news show 22nd April 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Aquila Energy Efficiency • Petershill Partners • NextEnergy Solar This week’s interview was with Viktor Szabó from abrdn Latin American Income Fund – watch […]
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14 Apr 2022 1 min read
NextEnergy Solar hikes target dividend by 5%
NextEnergy Solar Fund says that it is targeting a dividend of 7.52p for the financial year ended 31 March 2023, up 5% from the target for FY22 of 7.16p. The increase is higher than the rate of inflation over the course of 2021 (4.1%) and the biggest dividend increase announced by any of the UK-listed […]
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08 Apr 2022 1 min read
QuotedData’s weekly news show 8th April 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Jayna Rana covered the week’s top stories: Fundraising HydrogenOne Capital Growth Supermarket Income REIT International Public Partnerships Portfolio updates Gresham House Energy Storage NextEnergy Solar Cordiant Global Agriculture Income This week’s interview […]
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1 min read
NextEnergy Solar starts construction of its 36MW Whitecross project in Lincolnshire
NextEnergy Solar Fund (NESF) has announced that it has commenced the construction of Whitecross, a 36MW, subsidy-free utility solar plant, located in Lincolnshire. The original construction date of the asset was pushed back from the second half of 2021 “due to material volatility in the solar PV module supply chain post covid which has since […]
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2 min read
QuotedData’s morning briefing 8 April 2022
In QuotedData’s morning briefing 8 April 2022: HydrogenOne Capital Growth (HGEN) has announced that its placing, which was previously announced on 4 April 2022, has raised gross proceeds of £21.5 million via the issue of 21,469,999 New Ordinary Shares at a price of 100 pence per New Ordinary Share. The Placing was well supported by new […]
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18 Feb 2022 1 min read
QuotedData’s weekly news show 18th February 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Honeycomb • Credit ratings for CSH and SUPR • NextEnergy Solar/TRIG This week’s interview was with Carlos Hardenberg of Mobius Investment Trust – watch […]
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17 Feb 2022 2 min read
QuotedData’s morning briefing 17 February 2022
In QuotedData’s morning briefing 17 February 2022: NextEnergy Solar (NESF) continues the recent trend of NAV uplifts in the renewable energy sector with a 1.3p increase in its NAV over the three months ended 31 December 2021. The update that accompanies this announcement promises that more battery projects (developed in conjunction with Eelpower) will be […]
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09 Feb 2022 2 min read
QuotedData’s morning briefing 9 February 2022
In QuotedData’s morning briefing 9 February 2022: NextEnergy Solar (NESF) has announced an interim dividend of 1.79 pence per ordinary share for the quarter ending 31 December 2021, to be paid on 31 March 2022. NESF will also be offering shareholders a scrip dividend alternative to this, with a reference price to be announced on […]
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06 Jan 2022 1 min read
NextEnergy Solar invests in Cadiz solar plant
NextEnergy Solar Fund has signed its first co-investment transaction in connection with NextPower III ESG. It is buying a 25% stake in a Spanish 50MW utility scale solar project currently under construction in Cádiz, Spain – called Agenor. Energisation of the project is expected to take place in the first half of 2022. In June […]
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18 Oct 2021 1 min read
Natalie Kenway from ESG Clarity will be providing opening remarks at QuotedData’s Annual ESG Conference
Following the success of our ESG Webinar Series in November/December 2020, we will be hosting this year’s ESG Webinar Series on 16th, 17th and 18th November 2021. Each morning will focus on a different aspect of ESG with managers having the opportunity to present on their companies and how the specific aspects of ESG are embedded in […]
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17 Sep 2021 2 min read
NextEnergy Solar announces battery storage JV and first acquisition
NextEnergy Solar Fund (NESF) has announced that it has into a £100m joint venture partnership (JVP) with Eelpower Limited, a leading battery storage specialist in the UK. The joint venture partnership is targeting the establishment of up to 250MW in projects with £100m in invested capital and has already signed its first acquisition of a […]
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10 Aug 2021 2 min read
QuotedData’s morning briefing 10 August 2021
In QuotedData’s morning briefing 10 August 2021: Literacy Capital (BOOK) says that Butternut Box, a business providing healthy, fresh dog food on a subscription to dog owners’ doors, has finalised a funding round to raise further equity to support the continued growth of the business. As at 30 June 2021, Butternut Box was Literacy Capital’s 3rd largest […]
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22 Jun 2021 2 min read
NextEnergy Solar invests in private sister fund
NextEnergy Solar invests in private sister fund – NextEnergy Solar (NESF) has invested $50m into NextPower III LP (NPIII – a private ESG solar infrastructure fund, also managed by NextEnergy Capital) and a commitment to a new revolving credit facility of £100m. The investment will represent approximately 3.5% of NESF’s GAV as at 31 March […]
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17 Jun 2021 2 min read
Solid set of results from NextEnergy Solar
NextEnergy Solar (NESF) reported annual results to March 31 2021, with the following highlights: Despite unprecedented times, NESF delivered a solid set of financial results, its target of 150MW of subsidy-free development assets, and updated its investment policy to unlock growth opportunities Power price fluctuations were effectively managed through the successful hedging strategy implementation and […]
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31 Mar 2021 2 min read
QuotedData’s morning briefing 31 March 2021
In QuotedData’s morning briefing 31 March 2021 – JPMorgan Multi-Asset (MATE) announced that with immediate effect, to better reflect the investment objective of providing an attractive total return of growth and income, the company will change its name to JPMorgan Multi-Asset Growth & Income. The company’s London Stock Exchange stock ticker symbol MATE will remain […]
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25 Mar 2021 2 min read
NextEnergy Solar hits subsidy-free target
NextEnergy Solar hits subsidy-free target – NextEnergy Solar Fund has reached its subsidy-free development target of about 150MWp, through two newly approved subsidy-free development assets. Both assets are currently being prepared for construction and are expected to be energised in early 2022. The assets have an approximate investment value of £45m and comprise: Whitecross, a 124-acre […]
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01 Mar 2021 1 min read
NextEnergy Solar acquires two UK-based solar projects totalling 100MWp for £64m
NextEnergy Solar (NESF) announced the acquisition of the UK based Camden solar photovoltaic portfolio comprising two projects totalling 100MWp for a total consideration of c.£64.3m. The portfolio has a 15-year power purchase agreement (PPA) in place covering c.75% of the electricity to be generated over the life of the PPA. The PPA counterparty is AB InBev, the world’s largest […]
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22 Feb 2021 1 min read
Operational update from NextEnergy Solar
NextEnergy Solar (NESF) announced an operational update and its unaudited NAV, as at 31 December 2020. NAV increased to 100.7p per ordinary share, compared to 99.6p, as at 30 September 2020. Operational highlights from the period include: “763 MWp total capacity installed to date (30 September 2020: 755 MWp), across 91 operating solar assets with 8.5 MWp […]
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28 Oct 2020 1 min read
NextEnergy Solar says first half generation was 11.1% above budget
In an update statement this morning, NextEnergy Solar (NESF) announced that generation over the first half of its financial year, to 30 September, was 11.1% above budget. Solar irradiation exceeded expectations by 10.8%. NESF reaffirmed its full-year dividend target of 7.05p for the financial year ending 31 March 2021. High Garrett 8.5MWp subsidy-free solar asset energised […]
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30 Jun 2020 2 min read
NextEnergy hit by falling power price
NextEnergy hit by falling power price – NextEnergy Solar Fund says that, over the year ended 31 March 2020, its NAV fell from 110.9p to 99.0p. This translated into an NAV total return of -4.6%, which, when combined with a fall in the premium, left shareholders with a return of -7.8%. NextEnergy met its dividend target […]
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08 Apr 2020 3 min read
Year-end update from NextEnergy Solar with no significant impact from covid-19 to-date
NextEnergy Solar (NESF) has released an operational update with respect to its performance over the financial year-end period to 31 March 2020. For the current financial year ending 31 March 2021, NESF says that around 61% of revenues in the UK will be derived from regulated revenues (renewable obligation certificates and others), and approximately 39% […]
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20 Feb 2020 1 min read
NextEnergy cuts NAV on power prices
NextEnergy cuts NAV on power prices – NextEnergy Solar has published its end December NAV and it is 4.6% lower than the value at the end of September. The NAV has fallen from 111.2p to 106.1p and the biggest contributor to this is lower power price assumptions – accounting for -3.9p. This follows a pattern […]
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29 Jan 2020 1 min read
Renewable energy funds under attack from brokers
Renewable energy funds under attack from brokers – Shares in many renewable energy funds slumped yesterday as first Chris Brown of JPMorgan and then Matthew Hose of Jefferies said they were overvalued. Their analysis (which we can’t show you and you can’t get hold of unless you work for a large investment firm and pay […]
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18 Dec 2019 1 min read
QuotedData’s other news 18 December 2019
In QuotedData’s other news 18 December 2019 Sun Life Financial has bought a majority stake in Infrared Capital Partners, the investment adviser to HICL Infrastructure and The Renewables Infrastructure Group. This won’t have any impact on the day-to-day running of the funds. Infrastructure India has maxed out its $105m borrowing facility, borrowing another $30m to develop […]
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16 Dec 2019 2 min read
NextEnergy Solar announces second subsidy-free plant energisation of the year
NextEnergy Solar announces second subsidy-free plant energisation of the year – NextEnergy Solar (NESF) has announced the energisation of Staughton, which it describes as the UK’s largest subsidy-free solar plant with an installed capacity of 50MWp. The Staughton solar plant will cover the yearly electricity demand of approximately 15,000 UK households. It is largely located on a […]
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14 Nov 2019 1 min read
QuotedData’s other news 14 November 2019
In QuotedData’s other news 14 November 2019 At the half-year stage (30 September in its case), Next Energy Solar’s NAV crept up to 111.2p from 110.9p, supporting a 6.7% return to shareholders. Dividends for the first half totalled 3.44p, up from 3.325p. Electricity generation was 5% above budget, powering the equivalent of 134,000 homes for the […]
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12 Aug 2019 2 min read
NextEnergy issues more preference shares
NextEnergy issues more preference shares – NextEnergy Solar Fund has entered into an agreement with an investment vehicle owned by Universities Superannuation Scheme, whereby 100,000,000 preference shares will be issued, raising gross proceeds of GBP100m. The net proceeds will be used to repay the existing GBP90m short-term debt facilities and invest in NextEnergy’s pipeline of opportunities. The rights […]
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1 min read
QuotedData’s other news 12 August 2019
In QuotedData’s other news 12 August 2019 Unite Group, one of the UK’s leading owners, managers and developers of student accommodation, announces that it has exchanged contracts to acquire a new 620-bed development site in Nottingham.The direct let development, which is subject to planning consent, will open in time for the 2022/23 academic year. Total development costs […]
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08 Aug 2019 1 min read
NextEnergy Solar invests in Northern Ireland
NextEnergy Solar invests in Northern Ireland – as part of a wider updates on its operations, Next Energy Solar Fund has announced the acquisition of an 8MWp solar farm in Northern Ireland for £8.5m. Ballygarvey is an 8MWp solar plant located in Northern Ireland, connected to the grid in March 2018. The plant receives subsidies […]
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18 Jun 2019 1 min read
NextEnergy Solar generation 9% above budget
After the downpours of the last few weeks it might be easy to forget how sunny it was last year – NextEnergy Solar generation 9% above budget – NextEnergy Solar results for the year ended 31 March 2019 show: A net asset value per ordinary share of 110.9p (2018: 105.1p); Ordinary shareholder total return 11.8% (2018:6.2%); […]
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11 Feb 2019 2 min read
NextEnergy Solar Fund partners with Zestec for commercial rooftop solar programme
NextEnergy Solar Fund (NESF) has announced that it has entered into a partnership with Zestec Asset Management Limited (Zestec) for the future acquisition of operating solar plants to be installed on commercial properties. The two companies have signed a framework agreement, under which NESF and Zestec are targeting, for 2019, up to £20m in investment […]
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23 Oct 2018 1 min read
NextEnergy Solar Fund says no fee on preference share cash
NextEnergy Solar Fund says no fee on preference share cash – NextEnergy Solar Fund is in the process of issuing preference shares – a story we reported on 16 October. NextEnergy Capital IM Limited has now agreed to waive a proportion of the investment management fee due to it, so that no investment management fee is payable by […]
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16 Oct 2018 3 min read
NextEnergy Solar issues preference shares
NextEnergy Solar issues preference shares – NextEnergy Solar fund (NESF) has announced that it has entered into a conditional subscription agreement with AIP Solco Limited, who have agreed to subscribe to new non-voting Preference Shares of NextEnergy Solar. AIP Solco Limited AIP Solco Limited is a wholly owned subsidiary of AIP Infrastructure LP, an investment vehicle backed by three BAE Systems […]
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07 Aug 2018 1 min read
NextEnergy Solar adds 282 rooftop solar assets to its portfolio
NextEnergy Solar adds 282 rooftop solar assets to its portfolio – NextEnergy Solar Fund (NESF) has added a further 1.15MW of capacity through the acquisition of two portfolios of roof top solar assets in the UK. This is the company’s second rooftop portfolio acquisition. The company has signed a share purchase agreement to acquire the two portfolios for a total investment […]
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10 Jul 2018 1 min read
NextEnergy Solar adds 10 solar plants to its portfolio
NextEnergy Solar adds 10 solar plants to its portfolio – and adds a new revolving credit facility of £40.0 million with Santander. As part of its ongoing growth programme, NextEnergy Solar Fund (NESF) has acquired ten operating solar plants with a total installed capacity of 66.8 MWp in the West Country. The aquisition was done by way of a share […]
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18 Dec 2017 1 min read
NextEnergy buys two more plants
NextEnergy buys two more plants – NextEnergy Solar has announced the signing and completion of two share purchase agreements for the acquisition of two operating solar plants with a total installed capacity of 8.6MWp. The plants were acquired from different counterparties and comprise Gilley’s Dam (5.0MWp, Cornwall) and Pickhill Bridge (3.6MWp, Wrexham). Gilley’s Dam was […]
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01 Nov 2017 2 min read
NextEnergy Solar piles into Italy
NextEnergy Solar piles into Italy – Next Energy Solar Fund has made its first investments in Italy; eight operating solar plants with an installed capacity of 34.5MWp at a total cost of €131.9m. Five of the acquired plants are in the region of Puglia (total 21.5MWp) and three are in the region of Campania (total […]
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04 Sep 2017 1 min read
Five alternative investments for 5% plus yields
Investors’ insatiable appetite for income has pushed many innovative income funds to lofty premiums, but a host of opportunities remain. Jennifer Hill outlines five routes to pocket in flation-beating income. Investors are on the hunt for alternative sources of income, given the high valuations of many equity markets and poor value in bonds. ‘We’ve been looking […]
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29 Aug 2017 1 min read
NextEnergy adds two plants
NextEnergy adds two plants – NextEnergy Solar Fund Limited has announced the acquisition of two operating solar plants totalling 21.7MWp with an investment value of GBP26.4m Since IPO in 2014, NextEnergy Solar has now secured a portfolio of 50 solar PV assets with a total capacity of 505MWp and a total investment value of GBP581m. NextEnergy […]
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28 Jun 2017 3 min read
NextEnergy Solar generates 394GWh
NextEnergy Solar Fund has announced results for the year ending 31 March 2017. Highlights Investment portfolio of 48 solar PV plants for a total of c.483MW installed capacity in operation. NextEnergy Solar Fund is the largest listed solar energy fund on the London Stock Exchange in terms of both installed solar capacity and market capitalisation. Significant […]
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21 Jun 2017 2 min read
NextEnergy Solar oversubscribed placing raises £126.5m
NextEnergy Solar Fund (NESF) has announced the results of its placing. It says that the level of confirmed demand was significantly in excess of the original targeted fundraising of £100m and that due to the substantial oversubscription, the Board, after consulting the Investment Manager, has elected to exercise its right to increase the size of […]
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12 Jun 2017 2 min read
NextEnergy adds another 76.4MWp
NextEnergy adds another 76.4MWp – 16.6MWp split among four operating plants and 59.8MWp in development projects. The three operating solar plants, acquired from one seller, comprise Barnby (4.99MWp, Nottinghamshire), Bilsthorpe (4.99MWp, Nottinghamshire) and Wickfield (4.90MWp, Wiltshire). All three plants were connected to the grid during March 2017 and are expected to be accredited under the 1.2 […]
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21 Apr 2017 1 min read
NextEnergy Solar Fund acquires six plants, totalling 28MWp, for £30.5m
NextEnergy Solar Fund (NESF) has announced that it has signed six share purchase agreements to acquire the special purpose vehicles owning six plants, totalling 28MWp, with an investment value of £30.5m. Completion expected during the first half of 2017. The plants are Rampisham, Aller Court, Hill, Forest Farm, Wasing and Flixborough solar plants and are […]
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07 Feb 2017 1 min read
All trust sectors bar one made money in ’16
UK Smaller Companies was the only investment sector to lose money in 2016 despite a turbulent political and economic landscape, new research has revealed. See more here
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31 Jan 2017 2 min read
NextEnergy Solar secures new debt funding
NextEnergy Solar is pleased to announce the signing of a GBP150 million debt facility with a syndicate of lenders including Macquarie Infrastructure Debt Investment Solutions, National Australia Bank and Commonwealth Bank of Australia. The Facility provides long-term debt financing, with a maturity in 2035 that matches the regulated life of the portfolio, and comprises a mix […]
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04 Jan 2017 1 min read
NextEnergy Solar Fund acquires four plants, totalling 20MWp, for £21m
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. […]
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30 Nov 2016 1 min read
NextEnergy Solar NAV climbs as power prices rise
NextEnergy Solar Fund reports that its NAV per share increased from 98.5p on 31 March 2016 to 102.0p as at 30 September 2016. The NAV return was 8.3%. Reported profit for the period ended 30 September 2016 was GBP25.3m and earnings per share were 8.46p. During the period the share price increased from 97.75p to 106.13p […]
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22 Nov 2016 1 min read
NextEnergy Solar announces acquisition of Kentishes Solar Plant in Braintree, Essex
NextEnergy Solar Fund has announced that has signed an agreement to acquire the Kentishes solar plant, which is located at Stisted, Braintree, Essex. The company says that the 5 MWp plant is nearing the end of construction and is set to be accredited under 1.2 Renewable Obligation Certificate regime qualifying for the significant investment grace […]
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14 Nov 2016 1 min read
NextEnergy Solar plans £104m share issue
NextEnergy Solar hopes to double in size and, as a first step, it is planning a £104m share issue. At 30 September 2016, NextEnergy Solar had net assets of £350.1m (up from £283.1m at 30 June 2016) and the NAV per share had increased from 98.7p to 100.4p over that period. They expect to publish […]
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22 Jul 2016 1 min read
NextEnergy Solar Fund’s first tap issue raises £42.2m
NextEnergy Solar Fund has announced that its first Tap Issue has raised gross proceeds of £42.16m. The Company says that it has received applications from existing and new investors pursuant to the Issue for 41,991,242 New Shares at 100.4p per share and that, accordingly, it will sell all of the 30,850,000 ordinary shares currently held […]
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15 Jul 2016 1 min read
NextEnergy Solar Fund announces tap issue programme
NextEnergy Solar Fund has announced a proposed tap issuance programme to issue up to 54,885,000 New Shares, which the company says is equivalent to 19.7% of NESF’s existing voting share capital, to respond to market demand. The company says that, in response to interest from existing and new investors, its first Tap Issue, which is […]
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28 Jun 2016 2 min read
NextEnergy Solar returns held back by power prices
NextEnergy Solar reports that, at 31 March 2016, the company’s NAV was GBP273.8m, equivalent to 98.5p per share (March 2015: NAV of GBP248.4m, 103.3p per share) mainly affected by reductions in power price forecasts and removal of LECs (which had a combined negative impact on NAV of 14.6p per share). As experienced during the previous reporting […]
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27 Apr 2016 2 min read
NextEnergy Solar Fund is moving to quarterly dividend payments
NextEnergy Solar Fund has provided an update for the year ended 31 March 2016, through which it has announced that it is moving to paying quarterly dividends. Going forward, the Company will now pay dividends to shareholders on a quarterly basis, starting from the first quarter of the Company’s current financial year (the year ending […]
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05 Apr 2016 1 min read
NextEnergy Solar buys five plants
NextEnergy Solar has announced the acquisition of a portfolio of five operating plants totalling 84.2MWp for £97.9m. Completion is expected by mid April. The portfolio comprises Great Wilbraham (38.1MWp), Branston (18.9MWp), Bottom Plain (10.1MWp), Emberton (9.0MWp) and Berwick (8.2MWp). All these plants are connected and accredited under 1.4 Renewable Obligation Certificate (“ROC”) regime. NESF has put in […]
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11 Jan 2016 1 min read
NextEnergy Solar acquires three new plants for £61.7m
NextEnergy Solar Fund has announced that it has acquired of a portfolio of three operating plants totalling 53MWp for £61.7m (including transaction costs plus working capital). The Plants were all connected to the grid during the first quarter of 2015 and are operating under the 1.4 ROC regime. Green End (pictured) is located in Cambridgeshire […]
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26 Nov 2015 1 min read
NextEnergy Solar sees half-year generation 6% ahead of budget
NextEnergy Solar Fund has announced its half year results for the six months to 30 September 2015. During the period, its net assets grew by 16.2% from £248.4m to £289.0m, reflecting a fund raising £38.8m, whilst NAV per share increased by 0.7% from 103.3p on 31 March 2015 to 104.0p. At the end of the […]
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06 Nov 2015 1 min read
NESF proposes share issue and repurchase whilst extending credit facility to £100m
NextEnergy Solar Fund has announced plans to issue and then immediately repurchase into treasury of 30,850,000 new shares. Over time the shares can then be sold out of treasury, which the company says will give it the flexibility to raise additional capital in an “efficient and cost-effective manner”. The company says the shares will be […]
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03 Nov 2015 1 min read
NextEnergy Solar adds three new plants with 18.0 MWp of capacity
NextEnergy Solar Fund has announced that it has exchanged agreements to purchase three plants, Ellough Solar 2, Decoy and Hall Farm, with capacity of 18.0MWp and an investment value of £18.1m. The 8.0MWp Ellough Solar 2 will be an extension of the company’s existing Ellough plant (pictured). The plant is expected to be connected ahead […]
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21 Oct 2015 1 min read
NextEnergy Solar acquires assets in Dorset, Essex and Leicester
NextEnergy Solar Fund has announced the acquisition of three operational assets with a combined investment value of £22.1m. These are the 11.5MWp North Farm solar power plant in Dorset for £14.5m, the 5.0MWp Birch solar power plant in Essex for £5.3m and the 1.8MWp Thurlestone Leicester rooftop solar power plant portfolio in Leicestershire for £2.3m. […]
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23 Jul 2015 1 min read
Changes to solar subsidies
The Department for Energy and Climate Change (“DECC”) has announced a series of measures aimed at restricting the subsidies it pays to support renewable energy. The measures include: Removing the guaranteed level of subsidy for biomass conversions and co-firing projects for the duration of the Renewable Obligation, known as grandfathering. Launching a consultation on controlling subsidies for […]
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21 Jul 2015 1 min read
NextEnergy Solar secures finance for Cock Hill and Llwyndu projects
NextEnergy Solar Fund has announced that it has signed a £22.7m debt facility with NIBC Bank. This has been drawn down in full to finance its Cock Hill and Llwyndu projects (the total investment in the projects combined amounts to £32.7m). The facility has a 12-month duration, with a further 12-month extension available. The company […]
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09 Jul 2015 1 min read
Budget changes to Climate Change Levy hit Renewables
Changes in yesterday’s budget in relation to the Climate Change Levy (removal of Climate Change Levy exemption) for renewable electricity have had a knock-on effect on the net asset values of companies operating in the renewable energy sector as it changes the assumptions used to calculate them. Greencoat UK Wind says it was already factoring […]
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30 Jun 2015 1 min read
NextEnergy Solar beats budget
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 […]
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18 Jun 2015 1 min read
NextEnergy Solar adds two plants
NextEnergy Solar is spending £22m to acquire two additional solar plants. £11.1m will buy a 9.3MWp solar plant at Bowerhouse in Somerset and £10.9m will buy an 8.5MWp plant at Wellingborough in Northamptonshire. Bowerhouse was connected to the grid on 27 March 2015 and is to be accredited under the 1.4 Renewable Obligation Certificate (“ROC”) […]
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13 Apr 2015 1 min read
NextEnergy Solar adds a further 45MWp
NextEnergy Solar is spending up to £54.7m to acquire two plants with a total generating capacity of 45.4MWp. The deals are a share purchase agreement to acquire the operational 33.7MWp Glebe Farm solar power plant in Bedfordshire for up to £40.5m and a share purchase agreement signed to acquire the operational 11.7MWp Hawkers Farm solar […]
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27 Mar 2015 1 min read
NextEnergy Solar adds Cambridgeshire plant to portfolio
NextEnergy Solar is paying up to £17.8m to acquire a 16.5 MWp solar plant at Croydon in Cambridgeshire. The plant was connected to the grid on 2 March 2015 and so will qualify for the 1.4 ROC subsidy regime. The plant was constructed under an Engineering, Procurement and Construction contract negotiated by NESF’s investment advisor, […]
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12 Mar 2015 1 min read
NextEnergy Solar expands Bilsham and adds another plant
NextEnergy Solar is paying £3.2m to expand its existing plant at Bilsham by 2.6MWp and up to a further £22.9m to acquire 21.2MWp Langenhoe solar power plant in Essex which is being constructed under an Engineering, Procurement and Construction contract negotiated by NESF’s investment adviser, NextEnergy Capital Limited. Langenhoe was connected to the grid on 4 March 2015. Langenhoe will […]
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10 Feb 2015 1 min read
NextEnergy Solar announces NAV and plans fund raise
NextEnergy Solar Fund says its net asset value at the end of January 2015 was 101p (£182.4m), up 0.7% on the level at the end of December 2014. previously announced acquisitions of Bilsham, Gover Farm and Brickyard completed during January 2015. The Company is currently targeting a final dividend of 2.625p per Ordinary Share for […]
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31 Dec 2014 1 min read
NextEnergy buying Boxted Airfield solar plant
NextEnergy Solar has announced the acquisition of a solar power plant on Boxted Airfield, a site owned by Colchester Council, in the village of Langham about 3 miles from Colchester in Essex. The plant is being built on the former RAF Boxfield site and is due to be completed by March 2015. They expect it will attract […]
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22 Dec 2014 1 min read
NextEnergy Solar adds a further 28MWp
Next Energy Solar is buying two more plants – the 20.0MWp Cock Hill solar power plant and the 8.0MWp Llwyndu solar power plant. The Cock Hill plant is located in Wiltshire, and is to be accredited under the 1.4 Renewable Obligation Certificate (“ROC”) regime. They say construction of the plant has already begun, with internal roads […]
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04 Nov 2014 1 min read
NextEnergy results highlight growth potential
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 […]
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29 Oct 2014 1 min read
NextEnergy Solar buys plant in Shropshire
NESF : NextEnergy Solar buys plant in Shropshire NextEnergy Solar is buying a 10.2MW solar plant located at Condover in Shropshire. The purchase price is £11.7m and with this deal NextEnergy Solar has invested all of its IPO proceeds and has dipped into its credit facility to the tune of £6.6m. The Condover plant is […]
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09 Oct 2014 1 min read
NextEnergy Solar looking to raise over £250m
NESF : NextEnergy Solar looking to raise over £250m NextEnergy Solar Fund has announced that it has identified a pipeline of potential deals worth about £210m and has identified additional deals worth £333m. They have a revolving credit facility worth up to £31.5m and can use this to get the ball rolling but to fund […]
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14 Jul 2014 1 min read
NextEnergy Solar : NESF – Agreement to acquire 3.8MWp Brickyard solar power plant
NextEnergy Solar Fund, has agreed to acquire a special purpose vehicle with the rights to construct a solar power plant, The Brickyard Power Plant for £3.9m. The 3.8MWp plant is located in the Midlands and was identified in NESF’s Prospectus as a ‘core shortlist’ asset, when it listed on the LSE, in April 2014. The purchase is […]
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09 May 2014 1 min read
NextEnergy Solar Fund : NESF – acquisition
NextEnergy Solar Fund has spent 9% of its IPO proceeds (£7.98m) on a 6.3MW solar plant at Shacks Barn in Northamptonshire. the plant has been producing energy since march 2013 and qualifies for an older, more generous, government subsidy than a new plant would.
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In The Press
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23 Aug 2024 1 min read
DIVIDEND ROYALTY: FOUR INVESTMENT TRUSTS FOR DIVIDEND SEEKERS
Over the past couple of years, the cost-of-living crisis has been a painful reality for many, impacting everything from rent and mortgages to groceries. this underscores the importance of making your money work harder for you.. A more reliable approach to mitigating the impact of inflation might be to invest in dependable dividend-paying trusts. While […]
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28 May 2024 1 min read
Investment trust insider on biodiversity
Investment trust insider on biodiversity – James Carthew: Governments are finally taking biodiversity seriously Government action to address falling wildlife numbers is creating opportunities for some businesses, with tradeable biodiversity credits one incentive. Last week, 22 May was the International Day for Biodiversity. There are ‘days’ for just about anything that you can think of […]
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15 Apr 2024 1 min read
Investment trust insider on benefiting from yield while waiting for a re-rating
Investment trust insider on benefiting from yield while waiting for a re-rating – James Carthew: I’ve bought two more renewables, now looking at UK equity income Disappointing inflation figures look likely to delay the start of interest rate cuts in the US. This is an unhelpful development for the many investment company sectors that have […]
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1 min read
Investment trusts get cheap, again
by Dave Baxter, Investors’ Chronicle, April 12, 2024: A recovery in the investment trust sector has faltered in the first quarter, leaving plenty of options for bargain hunters. The lively market rally that took hold in late 2023 saw many trust shares ride high and discounts to net asset value (NAV) come in somewhat. That […]
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18 Mar 2024 1 min read
The income-generating trust sector trading at ‘ridiculous discounts’
Tom Aylott, PORTFOLIO ADVISER, 14 MARCH 2024: Trusts investing in renewables and infrastructure were high in demand a few years ago when the runway for growth was seemingly endless, but it has been quite a different story over the past couple of years. Five years ago, infrastructure trusts were trading on an average premium to […]
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11 Mar 2024 1 min read
Investment trust insider on renewables
Investment trust insider on renewables – James Carthew: ‘Buy’ great opportunities in run-down renewables Last month’s rise in US inflation knocked UK renewables funds, which I was happy to exploit. Don’t be surprised if we see bids in the sector. February was an odd month for markets and the main culprit was stronger-than-expected US inflation […]
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1 min read
Money Makers podcast: 11 March 2024
In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to James Carthew, director of QuotedData. You can listen to this week’s two podcasts in full here. Alternatively, you can subscribe and download it on most podcast channels including Soundcloud, Apple, Spotify, Stitcher and others.
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11 Jan 2024 1 min read
Investment trust bargains: how to find them and where to look in 2024
by Kyle Caldwell from interactive investor, 11th January 2024: There are various ways to improve the odds of investment success, including having a diversified portfolio, investing over the long term, and rebalancing a couple of times a year. Another one is to keep a close eye on valuations and seek out undervalued areas of the […]
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03 Jan 2024 1 min read
Are investment trust discounts getting out of hand?
by Jennifer Hill from interactive investor, 28th December 2023: Risk-off sentiment has pushed investment trust discounts to historically wide levels and many boards have been proactively trying to address the issue. This year will be a record for share buybacks with almost £3.5 billion of investment trust share buybacks in the first 11 months, data […]
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19 Dec 2023 1 min read
INTO THE HEADWIND
James Carthew in The Investment Trusts Handbook 2024: James Carthew reviews a tough year for the alternative asset trusts In the years following the global financial crisis, the investment companies industry boomed as investors in search of income poured money into alternative assets. Not everything worked. Aircraft leasing and reinsurance funds proved to be notable […]
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17 Nov 2023 1 min read
The IC investment trust income portfolios: our changes for the year ahead
by Dave Baxter, Investors’ Chronicle, November 16, 2023: The idea that investment trusts provide a reliable income through thick and thin has truly been tested in recent years, from the UK equity dividend suspensions of 2020 to the bond sell off seen over the last two years and the consequences that has had for yield-rich […]
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13 Nov 2023 2 min read
Revisiting Renewables
Cherry Reynard, AIC Compass Magazine, 10 Nov 2023: World leaders gathering in the UAE for the COP 28 at the end of November are likely to reach the now-familiar conclusion that countries ‘could do better’ on net zero targets. A cursory glance at the recent returns of renewable energy and environmental trusts – and their […]
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22 Sep 2023 1 min read
What investment trust boards are doing to address wide discounts
James Crux, Shares Magazine, 21 September 2023: According to data from the AIC, the average investment trust discount to net asset value has widened from 12.2% at the end of 2022 to 14.5% as of 8 September 2023, while sector averages have generally widened. The exception is private equity, which narrowed from 25.1% to 4.5%, […]
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22 Aug 2023 1 min read
Money Makers podcast: 21 Aug 2023
In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to James Carthew, director of QuotedData.
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11 Aug 2023 1 min read
How to find the real investment trust bargains
Kyle Caldwell, interactive investor, 10 Aug 2023: This episode of On The Money is inspired by interactive investor readers requesting a closer look at investment trust discounts. Kyle is joined by James Carthew, co-founder and head of investment company research at QuotedData, to tackle the topic, including how to spot a good opportunity and how […]
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07 Aug 2023 1 min read
Infrastructure and renewables – big yields, big discounts
Matthew Read, for Investment Week, 4 August 2023: The outlook for the UK equity market feels particularly depressed and it is not hard to see why. Even after June’s better-than-expected inflation figures, core UK inflation remains high, which suggests higher interest rates for longer. Commentators are expecting that the base rate, which at 5.25% is […]
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18 Jul 2023 1 min read
Investment trust discount dilemma: Is buying for less a bargain or a cause for concern?
By ANNE ASHWORTH, Daily Mail, 15 July 2023: When in a clothing store, the reduced rail is always my first destination. But my enthusiasm for a bargain is tempered by scepticism. The items may cost less, but they must also be the pieces my wardrobe needs, rather than impulse purchases. The same considerations apply when […]
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12 Jun 2023 1 min read
Bargain Hunter: sizing up ‘cheap’ investment trusts on 5%-plus yields
by Kyle Caldwell from interactive investor, 8 June 2023: For investment trust fans now is one of the best opportunities over the past decade to try and pick up a bargain, as the chart below from stockbroker Numis shows. The average equity investment trust is trading on a discount a smidge over 10%, while those […]
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01 Jun 2023 1 min read
Investment trusts ditch their ‘inflation protection’ tag
By Val Cipriani, Investors’ Chronicle, June 1, 2023: Investment trusts are announcing below-inflation dividend increases, making it more difficult for investors to maintain the real value of their income – although some might be able to catch up in 2024 or 2025. Last week, core infrastructure trust HICL Infrastructure (HICL) said it intends to maintain […]
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03 May 2023 1 min read
Alternatives de-rating throws up opportunities
James Carthew for Investment Week, 3 May 2023: Over the past 12 months or so, the disconnect between the net asset values of a wide range of investment companies and their share prices has widened considerably. The problem seems particularly acute in the area of alternative assets, which includes private equity, property, infrastructure and renewable […]
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1 min read
Investment trust insider on Next Energy Solar
Investment trust insider on Next Energy Solar – James Carthew: NextEnergy’s recycling is a boost to renewables News from NextEnergy Solar (NESF) that the company plans to sell some of its assets and use the proceeds to reduce debt, fund its pipeline and pay for share buybacks could be a much-needed shot in the arm […]
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20 Apr 2023 1 min read
Delving into the dividend: nine income trusts delivering top total returns
by Kyle Caldwell from interactive investor, 19th April 2023: There are sound reasons to look beyond ‘dividend hero’ investment trusts, as this research shows. Many investors like to buy funds and investment trusts that invest in dividend-paying companies or income-producing bonds… Investors should look beyond the dividend heroes However, investors should not just simply stick […]
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17 Mar 2023 1 min read
Look beyond the dividend heroes
Andrew Courtney, for Investment Week, 15 March 2023: The dividend hero and next generation hero lists published by the AIC are a great marketing tool for the investment companies industry and tend to generate a considerable amount of press attention, despite being a relatively simplistic yardstick (funds that have grown their dividend every year for […]
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15 Mar 2023 1 min read
Investment trust insider on Greencoat UK Wind
Investment trust insider on Greencoat UK Wind – James Carthew: Renewables de-rating won’t last. Funds like UK Wind are too important The end of the month sees a big milestone for the investment companies sector – Greencoat UK Wind (UKW), the first of the renewable energy infrastructure trusts, will be 10 years old. The initial […]
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02 Mar 2023 2 min read
The trusts to buy for rising dividends
By Dave Baxter, Investors’ Chronicle, February 28, 2023: High dividend yields can be hard to resist, and there are many currently on offer in the investment trust universe. But a high yield can reflect recent price volatility, as with embattled Home REIT (HOME), or be a result of an especially esoteric portfolio, an example being […]
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10 Feb 2023 1 min read
Deep Dive: Experts predict all forms of energy will be ‘winners’ in the next decade
Elliot Gulliver-Needham, Investment Week, 10 February 2023: Russia’s invasion of Ukraine, spiralling inflation and a renewed focus on energy security defined 2022, leading to a rapid evolution of investor attitudes towards the energy sector… According to the World Bank, energy prices in 2023 are expected to be 75% above their average over the past five […]
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07 Feb 2023 1 min read
Investment trust insider on income in time of inflation
Investment trust insider on income in time of inflation – James Carthew: Choppy outlook for income folk One question I have been pondering is, how would an income investor reliant on a portfolio of investment companies be faring now? Unfortunately, it looks as though some belt-tightening would be required. For example, companies that adopted a […]
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05 Dec 2022 1 min read
Clearer picture, calmer nerves for renewables?
James Carthew of QuotedData for Investment Week, 5 December 2022: Shifting sentiment has led to a widening of discounts to net asset value across many parts of the investment companies’ industry. One of the more unexpected deratings has occurred within the renewable energy infrastructure sector, despite two thirds of these funds generating double-digit NAV returns […]
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30 Nov 2022 2 min read
Renewable energy infrastructure trusts hold out against extra profits levy
By Val Cipriani, Investors’ Chronicle, November 30 2022: Renewable energy infrastructure trusts are taking a relatively small hit from the electricity generator levy, as its effect on their net asset value (NAV) is offset by high power prices and inflation in the latest round of portfolio updates – but share prices are still recovering quite […]
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20 Oct 2022 1 min read
When will renewable energy investment trust prices recover?
By Val Cipriani, Investors’ Chronicle, October 19, 2022: While equities and bonds have taken a battering, infrastructure has become an increasingly popular asset class in the past year, with a reputation for helping investors’ fortunes while traditional strategies were busy plummeting. Renewable energy in particular looked attractive in an environment where energy can be sold […]
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22 Aug 2022 1 min read
Can investors rely on high-yield trusts to deliver on their promise?
Ian Conway, Shares Magazine, 18 August 2022: With inflation eating away at investors’ income, high-yield trusts can look very appealing. However, the big question investors should ask before committing themselves is just how sustainable are the dividend streams? In this article we analyse four of the highest-yielding trusts, with a diverse mix of income generation, […]
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12 Jul 2022 1 min read
Why these defensive investments will continue to deliver
Sam Benstead from interactive investor, 12th July 2022: Amid a sea of red this year, one sector is flashing green: infrastructure and renewables. Investors have had very few places to hide this year, as higher interest rates and inflation spark an exodus from the stock market. Year-to-date, US shares have fallen around 20% (S&P 500 […]
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1 min read
The best renewable energy infrastructure trusts
By Cherry Reynard, Investors’ Chronicle, July 6, 2022: Amid febrile stock markets, renewable energy infrastructure trusts should be a rare sweet spot. They offer inflation protection at a time of double-digit price rises, high dividends when income is scarce and access to renewables as policymakers strive to decarbonise. They are also exposed to rising power […]
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07 Jun 2022 1 min read
Investment trust insider on windfall taxes
Investment trust insider on windfall taxes – James Carthew: Windfall tax confusion shows UK is a risk for renewables investors It was good to see Bluefield Solar Income (BSIF) announce it had managed to raise £150m in an oversubscribed share issue before the Jubilee holiday. This follows a similar-sized fundraise by Gresham House Energy Storage […]
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28 Feb 2022 1 min read
Investment trust insider on discount rates
Investment trust insider on discount rates – James Carthew: Inflation fears weigh on some income trusts Recent market turmoil has affected the ratings of a number of funds. Within my portfolio, one of the more peculiar de-ratings is that of Hipgnosis Songs Fund (SONG), which now looks to trade on an 8% discount to net […]
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07 Feb 2022 1 min read
Investment trust insider on renewables, power prices and inflation
Investment trust insider on renewables, power prices and inflation – James Carthew: Inflation and high gas prices are good news for renewable income funds Last June, I wrote an article that sought to delve a bit into the many different assumptions that go into calculating net asset values (NAVs) for renewable energy funds, excluding the […]
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06 Mar 2018 1 min read
Investment Trust Insider on Bluefield Solar
Investment Trust Insider on Bluefield Solar – James Carthew: the high-yield solar fund basking in UK’s rays With the ‘Beast from the East’ receding it is time to think about spring and sunshine, specifically Bluefield Solar Income Fund (BSIF), the only one of the renewable energy investment companies I own. It has been a great […]
