2020 Sustainable Development Goals Report

LEI: 213800ZPHCBDDSQH5447

25 January 2021

NextEnergy Solar Fund Limited

("NESF" or the "Company")

NextEnergy Capital Group Publishes its 2020 Sustainable Development Goals (SDG) Report

NextEnergy Solar Fund, the FTSE 250 solar power renewable energy investment company providing shareholders with an attractive risk-adjusted return from a diversified portfolio of primarily UK-based assets, is pleased to announce that its investment manager, NextEnergy Capital Group ("NEC") has released its 2020 Sustainable Development Goals (SDG) report. This is now available to view and download from the Company's website www.nextenergycapital.com

Link: NextEnergy_2020_SDG_Report.pdf (nextenergyfoundation.org)

Giulia Guidi, Head of ESG at NEC Group, commented:

"The events of the past year have further illuminated that beyond financial performance, the health of the environment, the people, and the local communities in which we operate is paramount. We started reporting on our impacts against the UN Sustainable Development Goals (SDGs) in 2019 and have utilised them as the basis for our corporate sustainability framework.

This year, as we publish our second impact report, we believe the COVID-19 pandemic has served to emphasize the acute comprehensiveness and continued relevance of the SDGs. The goals holistically conceptualize the interplay between environmental, social, and governance factors; a sentiment that is reflected in our values as a company. Our work with the NextEnergy Foundation facilitates our mission to have a positive social impact beyond our core business operations. 

This mission has generated strong momentum and has increased our alignment with the SDGs. Over the last year we have improved the way we measure our funds' contribution to climate mitigation, but also on water management, biodiversity, labour conditions, health and safety, and community engagement. Through the Foundation, our contributions to numerous initiatives have helped to alleviate the side-effects that the pandemic has had on families and children in the UK, Italy, Nepal, Malawi, Zambia, and Uganda.  

As we look to the year ahead, it is clear that improving our developments across all areas of the SDGs is imperative. We will continue to monitor, measure and manage our contribution to the SDGs, and look forward to updating stakeholders on our progress. "

For further information:

Notes to Editors:

A constituent of the FTSE 250 Index, NextEnergy Solar Fund is a renewable energy infrastructure investment company that invests primarily in operating solar power plants in the UK. The Company may however invest up to 30% of its gross assets in other OECD countries. NESF is committed to ESG principles and responsible investment and makes a meaningful contribution to reducing CO² emissions through the generation of clean solar power.  NESF has been designated a Guernsey Green Fund by the Guernsey Financial Services Commission and has been awarded the London Stock Exchange's Green Economy Mark.

As at 30 October 2020, NESF has a diversified portfolio comprising 91 operating solar assets, primarily on agricultural, industrial and commercial sites, with a combined installed power capacity of c.763MW.

As at 30 September 2020, the Company has gross assets of £994 million, of which 88% is invested in the UK, and net assets of £583.5 million. The majority of long-term cash flows from its investments are inflation-linked.

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 primarily UK-based solar energy infrastructure assets. The dividend is payable quarterly, and the Company has announced a dividend target for the year ending 31 March 2021 of 7.05p per ordinary share. 

NESF is differentiated by its access to NextEnergy Capital Group ("NEC Group"), its Investment Manager, which has a strong track record in sourcing, acquiring and managing operating solar assets.  WiseEnergy is NEC Group's specialist operating asset management division, which since its founding has provided operating asset management, monitoring, technical due diligence and other services to over 1,500 utility-scale solar power plants with an installed capacity in excess of 2.3GW.

Further information on NESF, NEC Group and WiseEnergy is available at nextenergysolarfund.com, nextenergycapital.com and wise-energy.eu.