REG - US Solar Fund PLC US Solar Fund - USFP - Potential Portfolio Sale - Award Of Exclusivity

Us Solar FundAnnouncement

18/05/2026 09:30

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RNS Number : 6899E  US Solar Fund PLC  18 May 2026

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INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH
AFRICA, OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION
OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.

 

This announcement contains inside information for the purposes of Article 7 of
the UK Market Abuse Regulation. Upon publication, this inside information is
in the public domain.

 

18 May 2026

 

US SOLAR FUND PLC

(the 'Company')

 

Potential Portfolio Sale - Award Of Exclusivity

 

 

US Solar Fund plc (LON: USF (USD)/USFP (GBP)), the renewable energy fund
investing in utility-scale solar power plants across North America, announces
that it has received a non-binding letter of intent in respect of the proposed
sale of USF Holding Corp, the Company's subsidiary which holds its entire
portfolio of solar generation assets.

 

The Board of the Company announces that, further to an initial non-binding
letter of intent and based on the review of the assets undertaken during a
subsequent period of engagement with a prospective buyer (the "Buyer"), it has
now received a further letter of intent for the disposal of its portfolio (the
"Potential Transaction") from the Buyer. The letter of intent remains
non-binding at this time. The Potential Transaction is at an indicative value
representing a significant premium to the Company's current market
capitalisation and would include a cash offer for the portfolio paid in full
at closing. The portfolio comprises 41 operational solar projects with a
combined generation capacity totalling 443 MWDC. The Buyer has requested, and
the Board has agreed to grant, an exclusivity period of 90 days, subject to
customary carve-outs. The Potential Transaction is subject to due diligence
and the negotiation of definitive legal documentation. The identity of the
Buyer and further details of the Potential Transaction are not being made
public at this time.

 

While discussions are ongoing, there can be no certainty that a transaction
will be agreed upon or as to the final terms of any such agreement. Should the
Potential Transaction proceed, it is expected that it will be subject to a
shareholder vote. The Board is committed to maximising value for shareholders
and will provide a further update, including engaging with shareholders when
appropriate.

 

ENDS

 

 US Solar Fund                      +44 20 7939 0550

 Meredith Frost (Amber)

 Cavendish Capital Markets Limited  +44 20 7397 8900

 Tunga Chigovanyika

 KL Communications                  +44 20 3882 6644

 Charles Gorman                     USF@kl-communications.com

 Charlotte Francis

 Amy Levingston Smith

About US Solar Fund plc

US Solar Fund plc, established in 2019, listed on the premium segment of the
London Stock Exchange in April 2019.

 

The solar power assets that the Company acquires or constructs are expected to
have an asset life of at least 30 years and generate stable and uncorrelated
cashflows by selling electricity to creditworthy offtakers under long-term
power purchase agreements (or PPAs). The Company's portfolio currently
consists of 41 operational solar projects with a total capacity of 443MWDC and
a weighted average of 9.9 years PPA term remaining as at 31 December 2025, all
located in the United States.

 

Further information on the Company can be found on its website:
http://www.ussolarfund.co.uk (http://www.ussolarfund.co.uk/) .

 

About Amber Infrastructure Group

Amber Infrastructure Investment Advisor LLC, a member of the Amber
Infrastructure Group, was appointed as the Company's Investment Manager on 1
December 2023.

 

Amber Infrastructure is an international infrastructure specialist, focused on
investment origination, development, asset management and in Europe, fund
management. Amber's core business focuses on infrastructure assets across the
public, transport, energy, digital and demographic infrastructure sectors that
support the lives of people, homes and businesses internationally.

 

Among other funds, Amber Infrastructure advises International Public
Partnerships, a FTSE 250-listed Company with a market cap of approximately
£2.2 billion and 15-year track record of long-term investment in
infrastructure assets globally. Amber is headquartered in London with offices
in Europe, North America and Australia and employs c.180 infrastructure
professionals.

 

Amber has had a strategic partnership with the Hunt Group of Companies in the
US since 2015 and completed their previously announced strategic transaction
with Boyd Watterson in August 2024. Amber is part of Boyd Watterson Global
Asset Management Group LLC, a global diversified infrastructure, real estate
and fixed income business with over $39 billion in assets under management and
over 300 employees with offices in eight US cities and presence in eleven
countries.

 

Further information on Amber can be found on its website:
http://www.amberinfrastructure.com (http://www.amberinfrastructure.com) .

Important information

 

This announcement is made without prejudice to ongoing discussions in respect
of the Potential Transaction described herein, and the terms thereof. There
can be no certainty that any transaction will proceed, nor as to the final
terms or timing of any transaction.

 

As it is intended that the Potential Transaction will comprise the sale of the
Company's portfolio of solar generation assets, the UK City Code on Takeovers
and Mergers (the "Code") is not expected to apply. The receipt of the
non-binding letter of intent and the agreement by the Board to grant an
exclusivity period does not constitute an offer for the purposes of the Code.

 

Nothing in this announcement shall form the basis of or constitute any offer
or invitation to sell or issue, or any solicitation of any offer to purchase
or subscribe for any shares or any other securities nor shall it (or any part
of it) or the fact of its distribution, form the basis of, or be relied on in
connection with, any contract therefor. None of the Company's shareholders
should base any financial decision on this announcement.  Any shareholder
action required in connection with the potential transaction will only be set
out in documents sent to or made available to shareholders, and any decision
made by such shareholders should be made solely and only on the basis of
information provided in those documents.

 

A further announcement will be made in due course.

 

The person responsible for making this announcement on behalf of the Company
is Ruth Wright (JTC (UK) Limited).

 

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