REG - US Solar Fund PLC US Solar Fund - USFP - Third Quarter Portfolio Performance

Us Solar FundAnnouncement

16/12/2025 07:00

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RNS Number : 6613L  US Solar Fund PLC  16 December 2025

16 December 2025

 

US Solar Fund PLC

("USF", or the "Company")

 

THIRD QUARTER PORTFOLIO PERFORMANCE

Further to the third quarter update issued on 26 November 2025, US Solar Fund
plc (LON:USF (USD)/USFP (GBP)), the renewable energy fund investing in
utility-scale solar power plants across North America, is providing additional
detail on its portfolio performance.

As previously announced, for the 9-month period to 30 September 2025,
portfolio generation was 11.5% below forecast, with 11.0% attributable to
technical (non-weather) factors and 0.5% attributable to below forecast solar
irradiance.

For the 3-month period to 30 September 2025, generation was 13.3% below
forecast, with 11.2% due to technical (non-weather) factors, and 2.1% due to
below forecast solar irradiance.

Portfolio detail

At a portfolio level, the majority of this 11.2% variance was attributable to
the performance of the Heelstone and Granite portfolios. These portfolios were
primarily impacted by downtime at projects identified for capital initiatives
as well as utility grid outages, site damage due to theft, and parts
unavailability due to supply constraints.

Approximately 70% of the 11.2% variance was attributable to 15 assets and half
of the 11.2% variance was attributable to 7 assets. Detailed disclosure on
performance variance attributable to technical (non-weather) factors, split by
portfolio and asset, has been published on the Company's website at website at
www.ussolarfund.co.uk (http://www.ussolarfund.co.uk) (refer to Investor Centre
-> Key Documents and Disclosure -> Key Documents -> USF Third Quarter
2025 Portfolio Performance Summary). A copy is also available here:
https://www.ussolarfund.co.uk/sites/default/files/usf_q3_2025_portfolio_performance_summary.pdf
(https://www.ussolarfund.co.uk/sites/default/files/usf_q3_2025_portfolio_performance_summary.pdf)

Future quarterly disclosure

Further to this, additional asset performance detail will be provided by the
Investment Manager each quarter, available at the same location as above.

 

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For further information, please contact:

 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

 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 Company's investment objective is to
provide investors with attractive and sustainable dividends with an element of
capital growth by owning and operating solar power assets in the US.

The solar power assets that the Company owns 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, all located in
the United States.

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

About Amber Infrastructure Group

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

Amber Infrastructure Group (Amber) 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 advises International
Public Partnerships, a FTSE 250-listed Company with a market cap of
£2.2billion 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 Hunt Companies, Inc.
in the US since 2015 and completed their previously announced strategic
combination with Boyd Watterson in August 2024.

Learn more at www.amberinfrastructure.com.

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