REG - NextEnergy Solar Fnd - Twelfth Dividend Target

NextEnergy Solar FundAnnouncement

15/05/2025 07:02

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RNS Number : 7220I  NextEnergy Solar Fund Limited  15 May 2025

LEI: 213800ZPHCBDDSQH5447

15 May 2025

NextEnergy Solar Fund Limited

("NESF" or "the Company")

 

 

 Twelfth Dividend Target

 

NextEnergy Solar Fund, a leading specialist investor in solar energy and
energy storage, is pleased to announce the Board has approved a maintained
dividend target of 8.43p per Ordinary Share for the financial year ending 31
March 2026.

 

The Board believes that this maintained dividend target appropriately balances
the interests of the Company's shareholders and other stakeholders with the
Company's available uses of capital. The Company's dividend target offers an
attractive c.12% dividend yield which is fully covered, representing one of
the largest dividend yields in the FTSE 350 based on the Company's closing
share price on 14 May 2025.

 

The dividend target is forecast to be covered in a range of 1.1x - 1.3x by
earnings post-debt amortisation, supported by a high degree of visibility of
the Company's revenues.  As of 15 May 2025, the Company's forecasted total
revenues for the year ending 31 March 2026 are 94% fixed through its
RPI-linked government-backed subsidies and the Company's active power hedging
strategy.

 

Since inception the Company has declared total Ordinary Share dividends of
£395m. This announcement represents NextEnergy Solar Fund's twelfth dividend
target, remaining in line with the Company's annual dividend policy. The
Company has an impressive track record having achieved all its dividend
targets whilst maintaining a covered dividend throughout the last eleven years
and continues to target a covered dividend beyond the current financial year.

 NextEnergy Solar Fund Dividend Track Record:

 

 

Helen Mahy, Chairwoman of NextEnergy Solar Fund Limited, commented:

"The Board and I are pleased to announce NextEnergy Solar Fund's twelfth
dividend target which continues to represent one of the largest dividend
yields in the FTSE 350.  Despite the ongoing challenging macroeconomic
backdrop for the wider sector, NextEnergy Solar Fund's high-quality portfolio
of solar energy and battery storage assets continues to prove resilient and
deliver regular income to shareholders.  This maintained dividend target
reflects these stable and visible cash flows."

 

Disclaimer:

The dividend target stated in this announcement is a target only and not a
profit forecast. There can be no assurance that this target will be met, and
it should not be taken as an indication of the Company's expected future
results.  Potential investors should not place any reliance on this target
and should decide for themselves whether the target dividend is achievable.

 

 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 March 2025, the Company had an unaudited gross asset value of
£1,061m.  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 370
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 3GW+ and has assets under management of $4.5bn.  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.10GW 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 March 2025, being the latest date
in respect of which NextEnergy Solar Fund has published financial information.

 

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