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.
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:
US Solar Fund Whitney Voûte |
+1 718 230 4329 |
Cenkos Securities plc Will Rogers Rob Naylor Will Talkington |
+44 20 7397 8900 |
KL Communications |
+44 20 3995 6673 |
Charles Gorman 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). 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.
