Helen Mahy, Chairwoman of NextEnergy Solar Fund Limited, commented:

“Geopolitics and macroeconomic events continued to create uncertainty over the quarter.  In addition, we have seen a reduction to short-term power prices which contributed to a slight reduction to the Company’s NAV over the Q4 period.  Despite this volatility, NextEnergy Solar Fund continues to show resilience as a company, and solar as a reliable and tested asset class.  The Board and the Company’s Investment Adviser meet regularly to discuss strategy and efficient discount control mechanisms to narrow the Company’s share price discount to NAV.  Maximising shareholder value and return remains a key priority and we are pleased that good progress has been made with the share buyback programme with the purchase of £3.4m worth of ordinary shares in the period.  Today, NextEnergy Solar Fund has also declared its fourth interim dividend bringing the total declared dividends for the financial year ended 31 March 2025 to 8.43p per Ordinary Share, in line with our guidance whilst being 1.1x cash covered, post amortisation of debt.”

Fourth Interim Dividend Declaration

NextEnergy Solar Fund, a leading specialist investor in solar energy and energy storage, is pleased to announce its fourth interim dividend of 2.11p per Ordinary Share for the quarter ended 31 March 2025.

The fourth interim dividend of 2.11p per Ordinary Share will be paid on 30 June 2025 to Ordinary Shareholders on the register as at the close of business on 23 May 2025.  The ex-dividend date is 22 May 2025.

This dividend announcement brings the total declared dividends for the financial year ended 31 March 2025 to 8.43p per Ordinary Share and represents the Company’s eleventh successive year of successfully meeting its dividend guidance.

Ross Grier, Chief Investment Officer of NextEnergy Capital said:

“Despite the current share price discount and a slight softening in NAV, NextEnergy Solar Fund’s portfolio of operational assets continues to perform in line with budget, providing a reliable and visible stream of cash flows from the sale of generated electricity.  Irradiance across the period has been lower than we have seen in recent years, however, pleasingly the months that follow this quarter have benefited from excellent weather and we look forward to this being reflected in portfolio numbers in future updates.  To date, NextEnergy Solar Fund has deployed approximately 11% of the UK’s total ground-mount solar operating capacity making it a key vehicle in helping to increase UK energy security whilst contributing heavily towards net zero goals.”