US Solar Fund PLC NAV UPDATE AND FACTSHEET (2275S)
November 05 2019 - 2:00AM
UK Regulatory
TIDMUSF TIDMUSFP
RNS Number : 2275S
US Solar Fund PLC
05 November 2019
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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.
5 November 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 September 2019 was $195 million or $0.977
per Ordinary Share.
During Q3 2019, USF:
-- executed and closed an acquisition agreement for the 128
megawatt (MWDC) utility-scale solar project Milford Solar Project
(Milford). Milford has commenced construction and is expected to be
operational in late 2020;
-- announced its first interim dividend of 0.41 cents per
ordinary share (to be paid on 8 November 2019). This represents an
annualised dividend yield of 2% when measured against the initial
issue price of $1.00 per ordinary share;
-- as at 30 September 2019, the Investment Manager's pipeline
included 4,219 MWDC of assets with $3.7 billion of cash equity
value and an average PPA term of 14.3 years.
After the end of the period, in October, USF announced that it
had entered exclusivity to acquire an approximately 39 MWDC
operating utility-scale solar power portfolio consisting of eight
projects located in North Carolina (Greenbacker).
The Company's factsheet for Q3 2019 is 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
Will Rogers
Rob Naylor
Will Talkington +44 20 7397 8900
Macquarie Capital (Europe) Limited
Stephen Taylor
Alex Reynolds +44 20 3037 2000
KL Communications +44 20 3995 6673
Charles Gorman
Josie Workman
Charlotte Stickings
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 or the
Investment Manager). 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$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
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