US Solar Fund PLC Sixth Binding Acquisition Agreement (9062N)
June 07 2022 - 2:00AM
UK Regulatory
TIDMUSF TIDMUSFP
RNS Number : 9062N
US Solar Fund PLC
07 June 2022
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ANY OFFER TO PURCHASE, SUBSCRIBE FOR OR OTHERWISE ACQUIRE, ANY
INVESTMENTS IN ANY JURISDICTION.
7 June 2022
US SOLAR FUND PLC (USF, the "Company")
SIXTH BINDING ACQUISITION AGREEMENT
Financial close on further 25% interest of 200MW(DC) Mount
Signal 2
US Solar Fund Plc ( LON:USF (USD) / USFP (GBP) ) is pleased to
announce financial close on its option to acquire a further 25%
interest (Tranche 2) in the 200MW(DC) Mount Signal 2 (MS2). The
acquisition takes USF's total ownership of MS2 to 50% or 100MW(DC)
and was funded with available cash.
USF's portfolio now comprises 42 fully operational assets with a
combined capacity of 543MW(DC) across five states in the US. The
acquisition increases USF's weighted average investment-grade power
purchase agreement (PPA) term from 14.1 years to 14.5 years and
further enhances geographic diversification.
For further information, please contact:
US Solar Fund
Whitney Voute +1 718 230 4329
Cenkos Securities plc
James King
Tunga Chigovanyika
Will Talkington +44 20 7397 8900
Jefferies International Limited
Stuart Klein
Gaudi le Roux +44 20 7029 8000
KL Communications +44 20 3995 6673
Charles Gorman
Charlotte Francis
Millie Steyn
About US Solar Fund plc
US Solar Fund plc, established in 2019, is listed on the premium
segment of the London Stock Exchange in April 2019 with a market
capitalisation of approximately $310 million at 31 March 2022. The
Company's investment objective is to provide investors with
attractive and sustainable dividends with an element of capital
growth by owning and operating solar power assets in North America
and other OECD countries in the America.
The solar power assets that the Company acquires or constructs
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). The Company's portfolio consists of 42 operational solar
projects with a total capacity of 543MW(DC) , all located in the
United States.
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. Combined, US Solar Fund and New Energy Solar
have committed approximately US$1.3 billion to 57 projects
totalling 1.2GW(DC) .
NESM is owned by E&P Funds, the funds management division of
E&P Financial Group, an ASX listed company (ASX: EP1) with over
A$20 billion of funds under advice.
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END
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