REG - NextEnergy Solar Fnd - Completion of Capital Recycling Programme

NextEnergy Solar FundAnnouncement

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RNS Number : 0949W  NextEnergy Solar Fund Limited  10 March 2026

LEI: 213800ZPHCBDDSQH5447

10 March 2026

NextEnergy Solar Fund Limited

("NESF" or "the Company")

 

 

Completion of Capital Recycling Programme

 

NextEnergy Solar Fund, a leading specialist investor in solar energy and
energy storage, is pleased to announce the successful sale of a 100MW
operational UK solar portfolio to a third-party buyer for £46.2m (the
"Transaction"). This transaction marks the completion of the Company's Capital
Recycling Programme (the "Programme"), which has generated a total of c.£119m
in capital through the disposal of 245MW of UK solar assets.

 

Final Phase (IV) of the Programme:

·     The 100MW portfolio is made up of two operating subsidy-free solar
assets:

o  The Grange: A 50MW utility-scale solar assets located in Nottingham.

o  South Lowfield: A 50MW utility-scale solar asset located in Yorkshire.

·     The sale of the portfolio raised £46.2m.

·     The Transaction represents a 1.1x Multiple on Invested Capital.

 

Use of proceeds:

·     Proceeds from the Transaction will be used towards reducing the
Company's drawn short-term debt via its Revolving Credit Facilities.

 

The purchaser:

·     Atrato Onsite Energy

 

Capital Recycling Programme summary:

·     Capital Recycling Programme is now complete.

·     Sold Five assets totalling 245MW of capacity.

·     Raised c.£119m total capital.

·     Added a total estimated Net Asset Value uplift of 2.44p per
ordinary share.

 

 Phase      Solar asset     Installed Capacity  Type            Price    NAV per ordinary share movement  Premium/ Discount  IRR
 Phase I    Hatherden       60MW                Ready-to-build  £15.2m   1.27p                            100%               57%
 Phase II   Whitecross      35MW                Operational     £27.0m   0.57p                            14%                14%
 Phase III  Staughton       50MW                Operational     £30.3m   0.92p                            21.5%              7.4%
 Phase IV   The Grange      50MW                Operational     £46.2m   (0.32p)                          (3.9%)             2.2%
            South Lowfield  50MW                Operational

 

Presentation Reminder - Board Strategic Review & Strategy Seminar
Presentation:

·     The Company will hold a strategy seminar presentation for investors
and sell-side analysts at the London Stock Exchange, with the session also
livestreamed online:

o  Start time: 10:30 GMT

o  Date:  Wednesday 11 March 2026

o  Duration: 2 hours

o  Registration & Webcast link: NextEnergy Solar Fund - Strategy Seminar
Presentation | SparkLive | LSEG
(https://sparklive.lseg.com/NextEnergySolarFundLtd/events/5f3e9009-5cae-4eea-a1ba-76a5872d2899/nextenergy-solar-fund-strategy-seminar-presentation)

·     A recording of the presentation will be made available shortly
after the event on both the Company's website and the London Stock Exchange
website.

 

Tony Quinlan, Chair of NextEnergy Solar Fund Limited, said:

"The completion of Phase IV marks the culmination of the Capital Recycling
Programme and represents an important milestone for NESF. This final
transaction strengthens the Company's balance sheet and demonstrates our
continued commitment to disciplined capital stewardship on behalf of
shareholders. We remain focused on positioning NESF for long‑term value
creation and I look forward to updating shareholders on the outcomes of the
strategic review on Wednesday."

 

Stephen Rosser, Investment Director, NextEnergy Capital said:

"Over the four phases of the Programme, we have divested five UK solar assets
totalling 245MW, generating approximately £119 million in proceeds and
contributing a 2.44p NAV uplift per ordinary share. Throughout the process, we
prioritised prudent capital deployment, using proceeds to reduce short‑term
debt and reinvest in the long‑term resilience of the portfolio. Despite a
challenging M&A environment, the team executed the Programme effectively,
and we are now seeing renewed momentum in the solar M&A market as we move
into 2026."

 

-       End -

 

 

 

 For further information:

 NextEnergy Capital

                                               020 3746 0700

 Michael Bonte-Friedheim                       ir@nextenergysolarfund.com (mailto:ir@nextenergysolarfund.com)
 Ross Grier
 Stephen Rosser
 Peter Hamid (Investor Relations)
                                               020 7653 4000

 RBC Capital Markets
 Matthew Coakes
 Kathryn Deegan
                                               020 7908 6000

 Cavendish
 Robert Peel
                                               020 7379 5151

 H/Advisors Maitland
 Neil Bennett
 Finlay Donaldson

                                               01481 742642

 Ocorian Administration (Guernsey) Limited
 Kevin Smith

 

 

Notes to Editors (1):

About NextEnergy Solar Fund

NextEnergy Solar Fund is a specialist solar energy and energy storage
investment company that is listed on the Main Market of the London Stock
Exchange.

 

NextEnergy Solar Fund's investment objective is to provide Ordinary
Shareholders with attractive risk-adjusted returns, principally in the form of
regular dividends, by investing in a diversified portfolio of utility-scale
solar energy and energy storage infrastructure assets.  The majority of
NESF's long-term cash flows are inflation-linked via UK government subsidies.

 

As at 31 December 2025, the Company had an unaudited gross asset value of
£997m.  For further information please visit www.nextenergysolarfund.com
(http://nextenergysolarfund.com/)

 

Article 9 Fund

NextEnergy Solar Fund is classified under Article 9 of the EU Sustainable
Finance Disclosure Regulation and EU Taxonomy Regulation.  NextEnergy Solar
Fund's sustainability-related disclosures in the financial services sector are
in accordance with Regulation (EU) 2019/2088 and can be accessed on the ESG
section of both the NextEnergy Solar Fund and NextEnergy Capital websites.

 

About NextEnergy Group

NextEnergy Solar Fund is managed by NextEnergy Capital, part of the NextEnergy
Group.  NextEnergy Group was founded in 2007 to become a leading market
participant in the international solar sector which now employs over 400
professionals.  Since its inception, NextEnergy Group has been active in the
development, construction, and ownership of solar assets across multiple
jurisdictions.  NextEnergy Group operates via its three business units:
NextEnergy Capital (Investment Management), WiseEnergy (Operating Asset
Management), and Starlight (Asset Development).

 

·      NextEnergy Capital: has over 18 years of specialist solar
expertise having invested in over 530 individual solar plants across the
world.  NextEnergy Capital currently manages four institutional funds with a
total capacity in excess of 4GW and has funds under management of c.$4.8bn.
More information is available at www.nextenergycapital.com
(https://www.nextenergycapital.com/)

·      WiseEnergy®: is a leading specialist operating asset manager in
the solar sector.  Since its founding, WiseEnergy has provided solar asset
management, monitoring and technical due diligence services to over 1,600
utility-scale solar power plants with an installed capacity in excess of
3.5GW.  More information is available at www.wise-energy.com
(https://www.wise-energy.com/)

·      Starlight: has developed over 100 utility-scale projects
internationally and continues to progress a large pipeline of c.12GW of both
green and brownfield project developments across global geographies.  More
information is available at www.starlight-energy.com
(https://www.starlight-energy.com/)

 

Notes:

(1:) All financial data is unaudited at 31 December 2025, being the latest
date in respect of which NextEnergy Solar Fund has published financial
information.

 

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