NextEnergy books solid year

• Developer reported a NAV of 98.9 p in its most recent FY results compared with 99.0 p per share for 2020

NextEnergy Solar Fund (NESF) reported a minor decrease in net possession worth (NAV) per regular share in its monetary results for the year, ending 31 March 2021.

The firm reported a NAV of 98.9 p, in its fiscal year results, compared with 99.0 p per share for 2020.

For this fiscal year finishing 31 March NESF's earnings before interest, tax, depreciation and amortisation (EBITDA) got to ₤ 78m contrasted to ₤ 86m in 2020, while total group revenue of portfolio reached ₤ 101m, compared with ₤ 108m in 2020.

Electricity generation for the portfolio was +6.2% above allocate the year, compared with +4.7% for 2020.

During the year NESF continued portfolio growth with four brand-new assets as well as reached its development target of 150MW of subsidy-free solar in the UK, earlier this year.

The developer stated its focus for the year in advance is on unlocking growth, expanding the NESF portfolio right into worldwide properties (approximately 30% GAV), battery storage (approximately 10% GAV), and also solar structures (approximately 15% GAV).

NESF is pursuing a 400MW pipe of global solar assets, across North America, Portugal, Spain and also Italy and a 500MW pipe of residential battery storage space assets to enhance NESF portfolio of solar possessions and add profits diversification.