14th Jul 2014 09:30
LONDON (Alliance News) - NextEnergy Solar Fund Ltd Monday said it has agreed to acquire a 3.8 million megawatt solar power plant in the English Midlands for GBP3.9 million.
The solar farm management group, which listed on London's main market in April, has been using the proceeds from its flotation to buy operational UK photovoltaic solar assets.
The company said Monday that the purchase of the Brickyard solar power plant, located in the Midlands, is conditional on plant commission, which it expects next month.
NextEnergy said it has now invested around 52% of the proceeds it raised in its IPO, having now acquired five assets for a total of around 38 megawatts.
Shares in the company were untraded Monday morning; they were last quoted at 103.00 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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