VH Global Sustain. - Agreement to acquire 3 solar PV sites in Australia

VH Global Energy Infrastructure

12/09/2022 07:00

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RNS Number : 0102Z  VH Global Sustainable Energy Oppt.  12 September 2022

VH Global Sustainable Energy Opportunities plc

12 September 2022

 

VH Global Sustainable Energy Opportunities has agreed to acquire three solar
PV sites in Australia for £21.2m

 

VH Global Sustainable Energy Opportunities ("GSEO", the "Company") - the
London-listed investment company advised by Victory Hill Capital Advisors LLP
focused on energy infrastructure that is essential for the global transition
towards net zero - has agreed to acquire and build three fully-permitted solar
PV sites for £21.2m as part of the existing £50m commitment to its
Australian solar PV and storage investment programme (the "Australian Energy
Transition Programme").

 

The Australian Energy Transition Programme was originally announced in August
2021 with operating partner Birdwood Energy. Phase I, announced in late 2021,
consisted of the acquisition of two operating solar PV sites with a combined
capacity of 17MW. Phase II, being the construction of co-located battery
storage systems ("BESS") has already commenced on one of the two Phase I
sites. The addition of BESS will allow greater optionality to capture positive
power price movements, prevent over-exposure to negative power prices, and
allow them to earn revenues from providing frequency response services to the
local grid.

 

Today's announcement relates to Phase III of the Australian Energy Transition
Programme and comprises an initial three new solar PV sites of 5MW each,
located in New South Wales. The construction of these three sites is expected
to begin in Q3 2022 with completion and commissioning expected in Q2 2023. The
Company retains exclusivity over a further two sites of 5MW each under Phase
III.

 

Expected full deployment in relation to Phases I, II and III of the Australian
Energy Transition Programme remains in line with the Company's original £50m
commitment.

 

As part of a potential Phase IV of the Australian Energy Transition Programme,
the Company is also evaluating, subject to further due diligence, the ability
to construct BESS alongside the Phase III assets.

 

All solar PV generation assets are expected to combine merchant sales and
long-term corporate PPA revenues as well as Large-scale Generation
Certificates. In addition, investors are expected to benefit from revenues
stemming from profitable energy arbitrage opportunities and frequency services
revenues.

 

The expected annual returns from the Australian Energy Transition Programme
exceed the Company's target annual dividend and total return.

 

 

 

www.vh-gseo.com

 

The Company's LEI is 213800RFHAOF372UU580.

 

 

For further information, please contact:

 

Edelman Smithfield (PR Adviser)

Ged Brumby                      + 44 (0)7540 412 301

Kanayo Agwunobi            +44 (0)758 101 0560

 

Victory Hill Capital Advisors LLP (Investment Adviser)

Navin Chauhan                 info@victory-hill.com

 

Numis (Joint Corporate Broker)

David Benda                       +44 (0)20 7260 1000

Matt Goss

 

Alvarium Securities Limited (Joint Corporate Broker)

Mark Thompson               +44 (0)20 7016 6711

Eddie Nissen                      +44 (0)20 7016 6713

Oliver Kenyon                    +44 (0)20 7016 6704

 

G10 Capital Limited (AIFM)

Mohammed Rahman     + 44 (0)20 7397 5450

Paul Cowland

 

Apex Fund and Corporate Services (UK) Limited (Company Secretary)

Geetika Dayal                    +44 (0)7903 820 161

 

 

About Victory Hill Capital Advisors LLP

Victory Hill Capital Advisors LLP ("VHCA") (FRN 938594) is an Appointed
Representative of G10 Capital Limited, which is authorised and regulated by
the Financial Conduct Authority (FRN 648953).

 

Victory Hill is based in London and was founded in May 2020 by an experienced
team of energy financiers that have spun-out of a large established global
project finance banking group. The team have an established track record built
over six years while working together in their previous roles and
participating in over $37.1bn in sustainable energy project transaction
values, generating over 24.2 per cent. equity returns. In addition, the team
has also participated in more than $200bn in transaction values across 91
conventional and renewable energy-related transactions in over 30
jurisdictions worldwide, throughout their individual careers. The average
experience per individual is 22 years of relevant energy finance experience.

 

The VHCA team deploys its experience across different financial disciplines in
order to assess investments holistically from multiple points of view. The
firm pursues operational stability and well-designed corporate governance to
generate sustainable positive returns for investors. It focuses on supporting
and accelerating the Energy Transition and the attainment of the UN
Sustainable Development Goals.

 

VHCA is a signatory of the United Nations Principles for Responsible Investing
(UN PRI), the United Nations Global Compact (UN GC) and is a formal supporter
of the Financial Stability Board's Task-Force on Climate-related Disclosures
(TFCD).

 

 

END

 

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