NESF NextEnergy Solar Fund

EQS-News: NextEnergy Solar Fund 'very happy' with interim results

EQS-News: NextEnergy Solar Fund Ltd
NextEnergy Solar Fund 'very happy' with interim results

23.11.2022 / 12:07 CET/CEST
The issuer is solely responsible for the content of this announcement.


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Proactive

Proactive UK Ltd

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News Source: News Direct


23.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: NextEnergy Solar Fund Ltd
United States
ISIN: GG00BJ0JVY01
EQS News ID: 1494817

 
End of News EQS News Service

1494817  23.11.2022 CET/CEST

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23/11/2022

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Reports on NextEnergy Solar Fund

James Carthew
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NextEnergy Solar Fund – New focus on total returns

As we explain in this note, NESF has found itself in a difficult place. No bidders emerged during the strategic review and a wide discount to NAV lowers its enterprise value, which limits its ability to buy back shares under the USS preference share covenant. While asset sales have helped reduce debt, weak demand for mature assets means this is not a quick solution and a managed wind down is not possible. As NESF needs cash, reducing the dividend is seen as the best option. The board and adviser...

James Carthew
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NextEnergy Solar Fund – New focus on total returns

Reducing the dividend should free up an estimated £40m over the next five years, which will be applied to strengthening the balance sheet (a target of 40%-45% loan-to-value) and funding new investments to support NAV growth. This includes repowering existing solar assets to enhance energy yields and the installation of co-located energy storage. The overall exposure to energy storage is targeted to rise to 30% of the portfolio. As we explain in this note, NESF found itself in a difficult situ...

Nigel Hawkins
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REIF wind-downs, plunging NAV discounts and “ajar” equity markets, but... Undoubtedly, 2025 was a difficult year for Infrastructure Investment Companies (IICs) and Renewable Energy Infrastructure Funds (REIFs). Investors have seen underperformance against the FTSE 100, widening NAV discounts, several delistings, managed wind-downs (MWDs) and regulatory issues in both the UK and in the US. The question for investors is: where do we go from here? On the one hand, yields for some REIFS are well ov...

Nigel Hawkins
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A director at NextEnergy Solar Fund Limited bought 39,000 shares at 66p and the significance rating of the trade was 53/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two yea...

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