Wedoany.com Report on Mar 11th, NextEnergy Solar Fund recently announced the completion of the sale of a 100 MW portfolio of operational UK solar assets to Atrato Onsite Energy for £46.2 million. This transaction marks the final stage of NextEnergy Solar Fund's capital recycling program, which has generated approximately £119 million in proceeds through the disposal of 245 MW of UK solar assets.

The sold solar portfolio includes two unsubsidized utility-scale projects: the 50 MW Grange project in Nottingham and the 50 MW South Lowfield project in Yorkshire. The company stated that this transaction achieved a 1.1x return on invested capital. The proceeds will be used to reduce drawn short-term debt through the revolving credit facility, thereby optimizing the financial position.

NextEnergy Solar Fund's capital recycling program was executed in four stages, involving the sale of five UK solar assets with a total capacity of 245 MW. These disposals not only generated approximately £119 million in proceeds but also contributed approximately 2.44 pence per ordinary share in Net Asset Value (NAV) accretion.

Tony Quinlan, Chairman of NextEnergy Solar Fund, stated: "The completion of the fourth stage marks the culmination of the capital recycling program and is a significant milestone for NESF." He added: "This final transaction strengthens the company's balance sheet and demonstrates our continued commitment to prudent capital management on behalf of shareholders."

Stephen Rosser, Investment Director at NextEnergy Capital, noted: "Across the four stages of the program, we divested five UK solar assets totaling 245 MW, generating approximately £119 million in proceeds and contributing 2.44 pence per ordinary share in NAV accretion." This series of operations reflects the company's asset optimization strategy within the UK solar market.