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IN BRIEF: US Solar Fund expects NAV boost from renewable contracts

18th Dec 2023 15:39

US Solar Fund PLC - London-based investment company focusing on owning and operating solar power assets in North America - Says that six of its Oregon projects have signed new long-term contracts to sell renewable energy certificates. The contracts and revised estimates of future renewable energy certificate prices are expected to boost net asset value by USD7.6 million, based on NAV as at September 30 of USD286.3 million. They are also expected to contribute to additional operational cash dividend coverage from 2024 onwards.

Tom O'Shaughnessy, head of North America at Amber, US Solar Fund's manager, says: "US state-level policies are mandating increasing levels of renewables output and driving rising renewable power prices, particularly from operational solar assets. These supportive long-term trends underpin US Solar Fund's portfolio with favourable income characteristics and a more stable outlook for the asset class."

Current stock price: USD0.52

12-month change: down 39%

By Holly Beveridge, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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