NAV Update, Quarterly Dividend and Acquisitions
London, February 1st, 2018 – NextEnergy Solar Fund Limited
(“NESF” or the “Company”)
Net Asset Value Update, Quarterly Dividend and Acquisitions
• NAV at 31 December 2017 of £602.4m (30 September 2017: £602.5m)
• NAV per share of 104.7p (30 September 2017: 105.1p)
• Quarterly dividend of 1.605p per share announced for quarter ending 31 December 2017
• On track for dividend target of 6.42p per share for the year ending March 2018 (including two quarterly dividends of 1.605p per share each previously paid)
• Medium- and long-term UK power price forecasts reduced to reflect market conditions
• Unlevered discount rate for UK assets reduced by 0.25% (from 7.0% to 6.75%) to reflect increasing market value of operating solar PV assets
• Acquisition of four operating solar plants (North Norfolk, Axe View, Low Bentham and Henley) totalling 25.9MWp with an investment value of £30.9m
• At 31 December 2017, the Company’s portfolio comprised 63 plants with an installed capacity of 569MWp (30 September 2017: 50 plants for 504.9MWp installed)