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REG - NextEnergy Solar Fnd - Interim Dividend Declaration

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RNS Number : 8990F  NextEnergy Solar Fund Limited  10 November 2022


10 November 2022


NextEnergy Solar Fund Limited

("NESF" or the "Company")


Interim Dividend Declaration


NextEnergy Solar Fund, the specialist solar and energy storage climate impact
fund, with a combined installed power capacity of 865MW, is pleased to
announce an interim dividend of 1.88 pence per Ordinary Share for the quarter
ended 30 September 2022. The interim dividend of 1.88 pence will be paid on 30
December 2022 to shareholders on the register as at the close of business on
18 November 2022. The ex-dividend date is 17 November 2022.


The Company continues to offer shareholders a Scrip Dividend alternative to
this interim dividend as detailed in the Scrip Circular dated 15 July 2022, a
copy of which can be viewed and / or downloaded from 'Circulars' in the
Investor Relations part of the Company website (nextenergysolarfund.com
(http://www.nextenergysolarfund.com/) ).  The Scrip Share reference price
will be announced on 24 November 2022, with elections to be made by 2 December


 For further information:

 NextEnergy Capital Group                    020 3746 0700

 Michael Bonte-Friedheim                     ir@nextenergysolarfund.com (mailto:ir@nextenergysolarfund.com)
 Aldo Beolchini
 Ross Grier
 Peter Hamid (Investor Relations)

 RBC Capital Markets                         020 7653 4000
 Matthew Coakes
 Kathryn Deegan

 Cenkos Securities                           020 7397 8900
 James King
 William Talkington

 Camarco                                     020 3781 8334
 Owen Roberts
 Eddie Livingstone-Learmonth

 Ocorian Administration (Guernsey) Limited   014 8174 2642
 Kevin Smith


Notes to Editors(1):


Notes to Editors(1):

About NextEnergy Solar Fund

NESF is a specialist solar and energy storage climate impact fund.  The
Company is structured as a renewable energy investment company listed on the
premium segment of the London Stock Exchange that invests in utility-scale
solar power plants and energy storage.  The Company may invest up to 30% of
its gross asset value in non-UK OECD countries, 15% in solar-focused private
infrastructure funds, and 10% in energy storage.

NESF currently has a diversified portfolio comprising of the following:

Solar PV:

·       100 operating solar assets across the UK and Italy (primarily
on agricultural, industrial, and commercial sites)

·       A 50MW co-investment into a Spanish solar project alongside
NextPower III ESG, currently under construction

·       A 210MW co-investment into a Portuguese solar project
alongside NextPower III ESG, currently under construction

·       A UK solar project under construction (Whitecross 36MW)

·       A ready-to-build UK solar project (Hatherden 50MW)

·       A $50m commitment into NextPower III ESG (a private solar
infrastructure fund providing exposure

         to both  operating and under construction, international solar


Energy Storage:

Joint Venture Partnership with Eelpower:

·    A 50MW standalone battery storage project in Fife, Scotland,
currently under construction (part of a £300m joint venture with Eelpower)

·      A portfolio of 250MW pre-construction standalone battery storage
projects in the East of England


Co-located programme:


·      First site identified for a 6MW co-located battery storage
project at North Norfolk Solar Farm


The NESF portfolio has a combined installed power capacity of 865MW (excluding
NextPower III MW on an equivalent look-through basis).

As at 30 June 2022, the Company had an unaudited gross asset value of
£1,198m, being the aggregate of the net asset value of the ordinary shares,
the fair value of the preference shares and the amount of NESF Group debt
outstanding, and an unaudited net asset value of £717.2m.

NESF'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 solar energy and energy
storage infrastructure assets.  The majority of NESF's long-term cash flows
are inflation-linked via UK government subsidies.

For further information on NESF please visit www.nextenergysolarfund.com

Commitment to ESG

NESF is committed to ESG principles and responsible investment which make a
meaningful contribution to reducing CO2 emissions through the generation of
clean solar power.  NESF will only select investments that meet the
requirements of NEC Group's Sustainable Investment Policy.  Based on this
policy, NESF benefits from NEC's rigorous ESG due diligence on each
investment.  NESF is committed to reporting on its ESG performance in
accordance with the UN Sustainable Development Goals framework and the EU
Sustainable Finance Disclosure Regulation.

NESF has been awarded the London Stock Exchange's Green Economy Mark and has
been designated a Guernsey Green Fund by the Guernsey Financial Services

Article 9

NESF is classified under Article 9 of the EU Sustainable Finance Disclosure
Regulation and EU Taxonomy Regulation.

NESF's sustainability-related disclosures in the financial services sector in
accordance with Regulation (EU) 2019/2088 can be accessed on the ESG section
of both the NESF website (nextenergysolarfund.com/esg/
(http://www.nextenergysolarfund.com/esg/) ) & NEC Group website

About NextEnergy Group

NESF 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.  Since its inception, it 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

NextEnergy Capital comprises the Group's investment management activities.
To date, NEC has invested in over 350 individual solar plants for a capacity
in excess of 2.4GW across it institutional funds.  www.nextenergycapital.com

 ●    NextEnergy Solar Fund ("NESF") is a solar infrastructure investment company
      focused on the UK and other OECD countries, which is listed on the premium
      segment of the London Stock Exchange.  It currently owns 865MW spread among
      100 individual operating assets in the UK and Italy, comprising an unaudited
      gross asset value of £1,198m.  NESF is one of the largest listed solar
      energy investment companies in the world.
 ●    NextPower II ("NPII") a private fund made up of 105 individual operating solar
      power plants and an installed capacity of 149MW, focused on consolidating the
      substantial, highly fragmented Italian solar market.  NPII was successfully
      divested in January 2022, a 2016 vintage vehicle that generated net IRRs in
      excess of its gross target of 10-12%.
 ●    NextPower III ESG ("NPIII") is a private fund exclusively focused on the
      international solar infrastructure sector, principally targeting projects in
      carefully selected OECD countries, including the US, Portugal, Spain, Chile,
      Poland and Italy.  NPIII is a fund that provides a positive social and
      environmental impact to the countries it has and will invest into.  NPIII
      completed its fundraise with a total of $896m, including an SMA raised.  The
      target of the fund was $750m.
 ●    NextPower UK ESG ("NPUK") is a private unlevered fund investing in greenfield
      subsidy-free solar projects, with PPA's, in the UK.  NPUK ESG recently
      announced its first close at £327 million, which is over 65% of the funds
      target of £500 million.  The UK Infrastructure Bank is the cornerstone
      investor for the fund and plans to invest up to £250 million on a match
      funding basis.



WiseEnergy® is NextEnergy Capital Group's operating asset manager.
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 1,350 utility-scale
solar power plants with an installed capacity in excess of 1.8GW.  WiseEnergy
clients comprise leading banks and equity financiers in the energy and
infrastructure sector.

www.wise-energy.com (http://www.wise-energy.com/)


Starlight is NextEnergy Group's development company that is active in the
development phase of solar projects.  It has developed over 100 utility-scale
projects internationally and continues to progress a large pipeline of c.10GW
of both green and brownfield project developments across global geographies.


(1:) All financial data is unaudited at 30 June 2022, being the latest date in
respect of which NESF has published financial information


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