27th Apr 2016 10:09
LONDON (Alliance News) - NextEnergy Solar Fund Ltd on Wednesday said its energy generation performance came in ahead of budget in its financial year, and it will shift to quarterly dividend payments in the current year.
The solar power project investor said its portfolio installed capacity at the end of March grew 90% year-on-year to 414 mega watt peak across 33 projects.
Energy generation outperformed 4.1% against budget, NextEnergy said, with irradiation also ahead of forecast.
The company expects to pay a final dividend of 3.125 pence per share and will now move to quarterly dividend payouts, with the first to be paid in September.
"Our stable capital structure has benefited from the availability of financial debt to the solar sector and our attractive, long-term, fully-amortising debt facilities contribute to improving financial returns and dividend cover going forward," said Chairman Kevin Lyon.
"We are looking forward to growing the company further during the current year," he added.
NextEnergy shares were down 0.4% to 97.86p Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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