1st May 2014 13:08
LONDON (Alliance News) - NextEnergy Solar Fund Ltd Thursday said it acquired its first operating solar power plant, totalling 6.1 megawatt peak, for GBP7.1 million.
The solar farm management group, which only listed on London's main market last month, is using the proceeds from its flotation to buy operational UK photovoltaic solar assets .
NextEnergy said the newly acquired Higher Hatherleigh solar power plant, which is located in Somerset, was energised in April last year and has been generating revenues since its energisation.
The group said that 5% acquisition sum has been withheld by the company for one year and is payable based on the performance of the plant.
NextEnergy said the investment uses around 8% of the proceeds it raised in its initial public offering. Last month NextEnergy said it raised GBP85.6 million in IPO.
Shares in the company were trading 0.3% lower at 100.74 pence Thursday afternoon.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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