11th Feb 2019 11:10
LONDON (Alliance News) - NextEnergy Solar Fund Ltd said Monday it has signed a framework agreement with Zestec Asset Management Ltd for the future acquisitions of operating solar plants being installed on commercial properties.
NextEnergy - which invests in solar power plants in the UK - said Zestec will source, develop and install solar power plants on commercial properties throughout the UK whilst the investment company will inject GBP20 million in the partnership.
The agreement will see Zestec install commercial solar plants using a power purchase agreement. NextEnergy said commercial landlords will be able to buy the electricity produced by Zestec's solar plants at a reduced tariff compared to their normal electricity import cost.
NextEnergy intends to enter into 15 and 25 year agreements with the commercial landlords.
Shares in NextEnergy Solar Fund were down 0.4% Monday at 115.00 pence each.
Related Shares:
NextEnergy Solar