5th Apr 2016 06:58
LONDON (Alliance News) - NextEnergy Solar Fund Ltd on Tuesday said it struck a GBP97.9 million deal to acquire five operating solar plants totalling 84.2 megawatt peak.
The portfolio comprises the Great Wilbraham in Cambridgeshire, Branston in Lincolnshire, Bottom Plain in Dorset, Emberton in Buckinghamshire and Berwick in East Sussex plants in the UK, NextEnergy said in a statement. The company expects the deal to complete by mid-April.
NextEnergy said it secured a GBP55.0 million project financing facility to back the acquisition, with the rest of the consideration to be covered by its existing cash resources and revolving credit facility. The new funding was arranged by Macquarie Infrastructure Debt Investment Solutions and will expire in 2034.
"We are particularly pleased with this acquisition. The portfolio is high quality, with good technology and commercial counterparts, and has been performing solidly since connection," said Kevin Lyon, NextEnergy Solar Fund's chairman.
By Sam Unsted; [email protected]; @SamUAtAlliance
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