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US Solar Fund: USF

US Solar Fund aims to provide investors with attractive and sustainable dividends, with an element of capital growth, by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas.

The company will invest, directly or indirectly, in these assets and will predominantly generate revenue by selling the electricity generated by, the electricity stored by, and/or the
capacity delivered by these assets.

Key details on the profile of the assets to be included include:

  • will have power purchase agreements (PPAs), capacity contracts or other similar revenue contracts in place of at least 10 years’ duration from the commencement of operations with creditworthy private and public sector electricity buyers;
  • PPAs may be structured as physical electricity contracts, contracts for difference, or other hedge-based arrangements;
  • to the extent that assets generates electricity in addition to volumes required under a PPA, such excess may be sold into a wholesale market if available or US Solar Fund may seek to sell such electricity to another electricity buyer under a short or long-term contract;
  • US Solar Fund will target construction-ready, in-construction, or operational assets that are designed and constructed to have an asset life of at least 30 years and are expected to generate stable electricity output and revenue over the lifespan of the asset.

We wrote an IPO note that explains how the fund works –

  • “Making Hay”, published in March 2019, looks at the newly established closed end investment trust focused on the solar market in the US

You can access the fund’s website here

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