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NextEnergy Solar Fund Ltd on Wednesday celebrated ‘impressive milestones’ as it reported a lower net asset value but higher dividend. The Guernsey-based specialist investor in solar energy and energy storage said net asset value per share fell 8.4% to 104.7 pence as at March 31 from 114.3p a year prior. NextEnergy declared a total dividend of 8.35p, up 11% from 7.52p. Further, it said it approved an initial share buyback programme of up to £20 million. Chair Helen Mahy said: ‘Since year end, NESF has successfully delivered the second phase of its capital recycling programme and realised attractive value for shareholders from the sale of Whitecross, a 35.22 megawatt operating solar asset.’ On Tuesday, the company had announced the sale of Whitecross to a third-party buyer for £27 million. Chief Executive Officer & Founder of NextEnergy Group Michael Bonte-Friedheim said the company had accomplished several ‘impressive milestones’ in the financial year, citing its dividend, the energisation of four new assets totalling 345 megawatt and the full-year dividend, among others. NextEnergy Solar is managed by NextEnergy Capital, which is part of NextEnergy Group. Bonte-Friedheim added: ‘NESF has been a key contributor to the UK’s progress towards its net zero targets to date and is well positioned to continue to be in the future. The majority of NESF’s operating assets are located across the UK and have been essential in increasing domestic renewable energy generation and helping strengthen the UK’s energy security and independence.’ NextEnergy Solar shares rose 1.5% to 77.72 pence each on Wednesday morning in London. Copyright 2024 Alliance News Ltd. All Rights Reserved.
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