US Solar Fund PLC NAV UPDATE AND FACTSHEET (6441G)
July 25 2019 - 2:02AM
UK Regulatory
TIDMUSF TIDMUSFP
RNS Number : 6441G
US Solar Fund PLC
25 July 2019
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR
INDIRECTLY, IN WHOLE OR IN PART, TO US PERSONS OR INTO OR WITHIN
THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER
JURISDICTION WHERE, OR TO ANY OTHER PERSON TO WHOM, TO DO SO WOULD
BE UNLAWFUL. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE
OR FORM PART OF ANY OFFER TO SELL OR ISSUE, OR ANY SOLICITATION OF
ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY
INVESTMENTS IN ANY JURISDICTION.
25 July 2019
US SOLAR FUND PLC (USF, the "Company")
NAV UPDATE AND FACTSHEET
US Solar Fund plc (LON: USF (USD)/USFP (GBP)), a newly
established investment company focused on investing in solar power
assets primarily in the United States, is pleased to announce that
its unaudited NAV at 30 June 2019 was $196 million or $0.979 per
Ordinary Share.
The Company's key updates for Q2 2019 are:
-- April 2019: listing on the premium segment of the London
Stock Exchange, raising gross proceeds of $200m with significant
support from leading UK institutional investors.
-- June 2019: agreed exclusivity to acquire a 128 megawatt
(MWDC) utility-scale solar power project. The project is located in
Utah, in the western United States, and has a 25-year power
purchase agreement (PPA) with an investment-grade (S&P rating:
A) offtaker, beginning in the second half of 2020. USF executed an
acquisition agreement for this project following quarter-end, in
July 2019.
-- June 2019: agreed exclusivity with US-based solar developer
Cypress Creek Renewables to acquire a portfolio of utility-scale
solar power projects located in North Carolina and Oregon, with
total capacity of approximately 90MWDC.
The Company's factsheet for Q2 2019 is linked to this
announcement
http://www.rns-pdf.londonstockexchange.com/rns/6441G_1-2019-7-24.pdf
and available on the Company's website at:
www.ussolarfund.co.uk/investor-centre.
For further information, please contact:
US Solar Fund
Whitney Voûte +1 718 230 4329
Cenkos Securities plc
Alex Collins
Sapna Shah
Tom Scrivens +44 20 7397 8900
Macquarie Capital (Europe) Limited
Stephen Taylor
Nick Stamp +44 20 3037 2000
KL Communications +44 20 3603 2803
Charles Gorman
Josie Workman
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).
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$800m 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$18 billion of funds under advice and management.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NAVUSRARKNABUUR
(END) Dow Jones Newswires
July 25, 2019 02:02 ET (06:02 GMT)
Us Solar (LSE:USF)
Historical Stock Chart
From Apr 2024 to May 2024
Us Solar (LSE:USF)
Historical Stock Chart
From May 2023 to May 2024