Third Acquisition Update

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2 January 2020

US SOLAR FUND PLC (USF, the "Company")

Third Acquisition Update

FINANCIAL CLOSE ON FIVE OPERATING SOLAR POWER PROJECTS IN NORTH CAROLINA

US Solar Fund plc (LON: USF (USD)/USFP (GBP)) is pleased to announce it has closed the acquisition of 100% of the cash equity interests in five operating utility-scale solar power projects totalling approximately 28MW in North Carolina. These five projects are part of the acquisition from Greenbacker Renewable Energy Company LLC announced on 27 December 2019 totalling approximately 39MW. USF expects to close the acquisition of the remaining three projects totalling approximately 11MW in North Carolina later this month once final diligence is complete.

For further information, please contact:

About US Solar Fund plc 

US Solar Fund plc listed on the premium segment of the London Stock Exchange in April 2019, following its successful US$200m IPO. The Company's investment objective is to provide investors with attractive and sustainable dividends with an element of capital growth by investing in a diversified portfolio of solar power assets in North America and other OECD countries in the Americas. 

The Company will acquire or construct, own and operate solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs). 

Further information on the Company can be found on its website at http://www.ussolarfund.co.uk.

About the Investment Manager 

USF is managed by New Energy Solar Manager (NESM). NESM also manages New Energy Solar, an Australian Securities Exchange (ASX)-listed fund which has committed over US$900m to US and Australian solar plants since late 2015. 

NESM is owned by Walsh & Company, the funds management division of Evans Dixon, an ASX-listed company (ASX: ED1) with over A$20 billion of funds under advice and management.