RCS - NextEnergy Solar Fnd - Update from QuotedData

NextEnergy Solar FundAnnouncement

12/07/2023 17:15

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RNS Number : 8463F  NextEnergy Solar Fund Limited  12 July 2023

NextEnergy Solar Fund - Update from QuotedData

12(th) 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 per share, and is confident
that this will be well-covered by earnings.

In the face of a difficult market for fundraising (expanding the fund by
issuing new shares), NESF's managers propose recycling capital from its
portfolio of subsidy-free solar assets. In the short term, the proceeds would
be used to reduce borrowings (gearing) and fund a potential share buyback.
Longer-term, the proceeds would be used to secure new solar and energy storage
opportunities that present a suitable return profile.

After a good 2022/23 financial year, new investments could boost the NAV and
cashflows further. Share buybacks could turn the tide on NESF's share price
discount to net asset value (NAV) and lower debt levels could calm investors'
nerves. Combine this with a prospective dividend yield of 9.1% and NESF's
future looks bright.

Full Research:

https://quoteddata.com/research/nextenergy-solar-fund-recycling-champion-qd/
(https://quoteddata.com/research/nextenergy-solar-fund-recycling-champion-qd/)

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NB: Marten & Co was paid to produce this note on NextEnergy Solar Fund
Limited and it is for information purposes only. It is not intended to
encourage the reader to deal in the security or securities mentioned in this
report. Please read the important information at the back of this note.
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