NextEnergy Solar fund makes three acquisitions
NESF has announced the signing and completion of three separate share purchase agreements to acquire special purpose vehicles owning North Farm, Birch and Thurlestone, for a total value of £22.1m.
North Farm is a 11.5MWp operating solar power plant that was commissioned in March 2015. The plant has been accredited under the 1.4 Renewable Obligation Certificate regime.
Birch was constructed under an Engineering, Procurement and Construction contract negotiated by NESF’s investment advisor, NextEnergy Capital Limited, and has been connected since June 2015.
The Thurlestone portfolio comprises some 700 rooftops in Leicestershire which were connected between November 2012 and June 2013. Thurlestone is NESF’s first acquisition of a rooftop portfolio and the Company expects to expand in this market segment.
Both Birch and Thurlestone receive the Feed-in-Tariff incentive, enabling NESF to diversify the composition of its revenue sources.
Below is a breakdown of the acquisitions:
– Acquisition of the operational 11.5MWp North Farm solar power plant in Dorset (North Farm) for up to £14.5m
– Acquisition of the operational 5.0MWp Birch solar power plant in Essex (Birch) for up to £5.3m
– Acquisition of the operational 1.8MWp Thurlestone Leicester rooftop solar power plant portfolio in Leicestershire (Thurlestone) for up to £2.3m
– NESF has now secured 21 assets totalling 253MWp and a total investment value of £296.1m