18th Sep 2014 08:14
LONDON (Alliance News) - NextEnergy Solar Fund Ltd Thursday said it has signed a deal for a revolving credit facility of up to GBP31.5 million in a move designed to enable it to acquire further solar power plants.
In a statement, NextEnergy Solar Fund said it is currently undertaking due diligence on twelve projects amounting to about 206 megawatts. The fund said it has entered into letters of intent containing exclusivity provisions, and expects to announce acquisitions from the pipeline shortly.
The two-year revolving credit facility is being provided by Macquarie Bank Ltd. NextEnergy Solar Fund has deployed more than 90% of its initial public offering proceeds since listing at the end of April earlier this year.
NextEnergy shares were Thursday untraded at 105.55 pence.
By Samuel Agini; [email protected]; @samuelagini
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