|
US Solar Fund PLC on Monday said it has received a non-binding offer for its entire portfolio of solar generation assets from an unnamed suitor. The investor in utility-scale solar power plants across North America said it has received a non-binding letter of intent for the sale of USF Holding Corp, its subsidiary which holds the portfolio. Based on a review of assets with the prospective buyer, US Solar Fund said it has now received a further letter intent for the disposal of the portfolio. It said the potential transaction is at an indicative value representing a ‘significant’ premium to its current market capitalisation. It would include a cash offer for the portfolio, paid in full at closing. US Solar Fund shares were up 24% at $0.35 on Monday morning in London, for a market capitalisation of £86.2 million. The portfolio is made up of 41 operational solar projects with a combined generation capacity of 443 megawatts, direct current. US Solar Fund has granted the buyer an exclusivity period of 90 days, subject to customary carve-outs. The transaction is subject to due diligence and the negotiation of definitive legal documentation. The firm said there can be no certainty that a transaction will be agreed upon or as to the final terms. Should the transaction proceed, it is expected to be subject to a shareholder vote. Copyright 2026 Alliance News Ltd. All Rights Reserved.
|
