REG - NextEnergy Solar Fnd - Government Response to RoC and FiT Consultation

NextEnergy Solar FundAnnouncement

28/01/2026 09:45

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RNS Number : 7265Q  NextEnergy Solar Fund Limited  28 January 2026

LEI: 213800ZPHCBDDSQH5447

28 January 2026

NextEnergy Solar Fund Limited

("NESF" or "the Company")

 

 

 Government Response to Renewable Obligation Certificate and Feed in Tariff
Consultation

 

NextEnergy Solar Fund, a leading specialist investor in solar energy and
energy storage, notes today's UK Government Response
(https://www.gov.uk/government/consultations/renewables-obligation-ro-scheme-indexation-changes)
to the formal consultation regarding the change to the inflation indexation of
Renewable Obligation Certificate ("ROC") and Feed-in-Tariffs ("FiT") which
impacts the Company.

 

The Government has confirmed it intends to pursue Option 1 - an immediate
switch to CPI indexation from RPI - which means the UK Government would change
the inflation measure for ROC buy-out prices and FiT prices from RPI to CPI,
effective from April 2026.

 

As reported in the Company's interim results
(https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=7843933&lang=en-GB&companycode=gg-nesf&v=)
, the impact to NESF as at its 30 September 2025 Net Asset Value ("NAV") will
be as follows:

 Estimated Impact on NAV per Ordinary Share  Estimated % impact on NAV
 c. -2p                                      c. -2%

 

A further update will be provided in February 2026 on the impact on NAV per
Ordinary Share when the Company releases its Q3 NAV & Operating Update as
at 31 December 2025.

 

Ross Grier, Chief Investment Officer of NextEnergy Capital said:

"The NextEnergy Solar Fund Board and NextEnergy Capital are grateful to the
civil servants for engaging so proactively with the concerns we raised
regarding this consultation.  Whilst the selected option is the less
disruptive of the two proposed, we remain disappointed that the Government is
taking steps that are expected to harm investor confidence in Great British
infrastructure at a time when we need more capital than ever to deliver the
energy transition in a timely fashion."

 

 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 30 September 2025, the Company had an unaudited gross asset value of
£1,029m.  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 30 September 2025, being the latest
date in respect of which NextEnergy Solar Fund has published financial
information.

 

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