NextEnergy Solar Fund Limited Change to Director Roles and Responsibilities (5571J)
August 16 2023 - 12:53PM
UK Regulatory
TIDMNESF
RNS Number : 5571J
NextEnergy Solar Fund Limited
16 August 2023
LEI: 213800ZPHCBDDSQH5447
16 August 2023
NextEnergy Solar Fund Limited
("NESF" or the "Company")
Change to Director Roles and Responsibilities
Succession to Chair of the Board
NextEnergy Solar Fund, the specialist solar+ fund announces
changes to the roles and responsibilities of the following
Directors with effect from 16 August 2023, in accordance with
listing rule 9.6.11.
In line with the information provided in the Notice of Annual
General Meeting released on 20 July 2023, Mr Kevin Lyon has stepped
down as the Chair and Non-Executive Director of the Company after
serving his full nine-year tenure. The Board and the Company's
Investment Adviser extends their gratitude for Mr Lyons' guidance
and experience since the Company listed in 2014 and wishes him well
in his future endeavours.
Ms Helen Mahy who joined the NESF Board as a Non-Executive
Director and Chair Elect on the 3 April 2023 has succeeded Kevin
Lyon as Chair of NESF. Ms Mahy was appointed as the new Chair of
the Company with immediate effect following the Company's AGM on 16
August 2023. The Board of Directors and the Company's Investment
Adviser look forward to Ms Mahy's leadership and continued
support.
Helen Mahy, Chair of NextEnergy Solar Fund Limited,
commented:
"On behalf of NESF's Board of Directors, we would like to thank
Kevin for his successful Chairmanship and leadership of NESF. Kevin
has been the Chair of NESF since the Company successfully floated
on the London Stock Exchange and under his guidance, NESF has
significantly grown to an audited gross asset value of GBP1,218m
(as of 31 March 2023), has been promoted into the FTSE 250 index,
and has delivered strong shareholder returns. I look forward to
continuing this hard work alongside my fellow Directors as we
prepare for our next phase of growth."
Michael Bonte-Friedheim, CEO of NextEnergy Group said:
"On behalf of the NextEnergy Group, I would personally like to
thank Kevin for his guidance and oversight over the last nine
years. NESF is a fund that provides both an attractive financial
return for its shareholders whilst contributing to a real reduction
in carbon emissions, currently producing enough clean energy to
power c.242,000 UK homes per year. Going forward, NESF continues to
benefit from both its highly experienced and specialist
Non-Executive Board and its Investment Adviser's deep knowledge of
the sector. We are excited to formally welcome Helen as the new
Chair of NESF. Helen has a proven track record and wealth of
experience in the renewables sector and is ideally suited to
support NESF at this juncture."
For further information:
NextEnergy Capital 020 3746 0700
Michael Bonte-Friedheim ir@nextenergysolarfund.com
Ross Grier
Stephen Rosser
Peter Hamid (Investor Relations)
RBC Capital Markets 020 7653 4000
Matthew Coakes
Elizabeth Evans
Kathryn Deegan
Cenkos Securities 020 7397 8900
James King
William Talkington
H/Advisors Maitland 020 7379 5151
Neil Bennett
Finlay Donaldson
Ocorian Administration (Guernsey) Limited 014 8174 2642
Kevin Smith
Notes to Editors(1) :
About NextEnergy Solar Fund
NESF is a specialist solar+ fund listed on the premium segment
of the London Stock Exchange and is a constituent of the FTSE 250.
NESF's investment objective is to provide ordinary shareholders
with attractive risk-adjusted returns, principally in the form of
regular dividends, by investing in a diversified portfolio of
utility-scale solar energy and energy storage infrastructure
assets. The majority of NESF's long-term cash flows are
inflation-linked via UK government subsidies.
The NESF portfolio has a combined installed power capacity of
865MW (excluding NextPower III MW on an equivalent look-through
basis). NESF may invest up to 30% of its gross asset value in
non-UK OECD countries, 15% in solar-focused private infrastructure
funds, and 10% in energy storage assets. As at 31 March 2023, the
Company had an audited gross asset value of GBP1,218m. For further
information on NESF please visit www. nextenergysolarfund.com
Article 9 Fund
NESF is classified under Article 9 of the EU Sustainable Finance
Disclosure Regulation and EU Taxonomy Regulation. NESF's
sustainability-related disclosures in the financial services sector
in accordance with Regulation (EU) 2019/2088 can be accessed on the
ESG section of both the NESF & NEC website.
About NextEnergy Group
NESF is managed by NextEnergy Capital, part of the NextEnergy
Group. NextEnergy Group was founded in 2007 to become a leading
market participant in the international solar sector. Since its
inception, it has been active in the development, construction, and
ownership of solar assets across multiple jurisdictions. NextEnergy
Group operates via its three business units: NextEnergy Capital
(Investment Management), WiseEnergy (Operating Asset Management),
and Starlight (Asset Development).
-- NextEnergy Capital: Ha s over 16 years specialist solar
expertise having invested in over 375 individual solar plants
across the world. NextEnergy Capital currently manages four
institutional funds with a total capacity in excess of 2.4GW+ and
has asset under management of $3.7bn. www.nextenergycapital.com
-- WiseEnergy(R): Provides solar asset management, monitoring
and technical due diligence services to over 1,350 utility-scale
solar power plants with an installed capacity in excess of 1.8GW.
WiseEnergy clients comprise leading banks and equity financiers in
the energy and infrastructure sector. www.wise-energy.com
-- Starlight: H as d eveloped over 100 utility-scale projects
internationally and continues to progress a large pipeline of
c.10GW of both green and brownfield project developments across
global geographies.
Notes:
(1:) All financial data is audited at 31 March 2023, being the
latest date in respect of which NESF has published financial
information .
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