US Solar Fund Plc

USFP

GB00BJCWFX49

Investment Trusts

Delayed London S.E. Other stock markets 03:07:25 2024-05-01 am EDT			5-day change	1st Jan Change
36.8 ^GBX	-3.16%		+2.22%	-14.12%

Apr. 24	EARNINGS AND TRADING: Nichols trading in line; Ondine revenue doubles	AN
Apr. 24	US Solar Fund Plc Decides to Reduce the Target Dividend for 2024	CI

US Solar Fund says MN8 exercises option for stake in Mount Signal 2

January 23, 2023 at 10:52 am EST

(Alliance News) - US Solar Fund PLC on Monday said that renewable energy business MN8 Energy PLC has exercised its option for a 50% interest in US Solar Fund's Mount Signal 2 asset.

US Solar Fund is an investment company focusing on owning and operating solar power assets in North America and other Organisation for Economic Co-operation & Development countries in the Americas.

MN8 Energy was formerly known as Goldman Sachs Renewable Power LLC.

The option gives MN8 the right to acquire a 50% stake in the Mount Signal 2 asset for USD52.2 million plus a non-refundable option fee of USD1 million.

MS2 sale will imply a gross return of around 11% per year since US Solar Fund announced the agreement to acquire up to 50% of MS2 from New Energy Solar in December 2020, it said.

It expects to execute binding sale documents in the first quarter of 2023.

Shares in US Solar Fund were down 0.3% to USD0.83 each in London on Monday afternoon.

By Greg Rosenvinge, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Latest news about US Solar Fund Plc

EARNINGS AND TRADING: Nichols trading in line; Ondine revenue doubles	Apr. 24	AN
US Solar Fund Plc Decides to Reduce the Target Dividend for 2024	Apr. 24	CI
US Solar Fund ups dividend despite drop in NAV	Mar. 25	AN
US Solar Fund Plc Announces Dividend for the Fourth Quarter of 2023, Payable on 30 April 2024	Mar. 25	CI
Two Rio Tinto execs sell GBP7.8 million in shares	Dec. 27	AN
US Solar Fund expects NAV boost from renewable contracts	Dec. 18	AN
US Solar Fund plc Announces Dividend for the Third Quarter of 2023, Payable on 29 December 2023	Nov. 30	CI
US Solar Fund appoints new investment manager	Nov. 17	AN
CPP reports new business wins for Blink division	23-10-31	AN
EARNINGS: Ukrproduct outlook uncertain amid war; Microlise revenue up	23-09-28	AN
US Solar Fund plc Announces Second Quarter 2023 Dividend, Payment Date of 27 October 2023	23-09-28	CI
US Solar Fund prefers Amber Infrastructure as new investment manager	23-08-21	AN
US Solar Fund notes continued improvement of underlying portfolio	23-08-07	AN
FTSE 100 Closes Up 0.2% Lifted by Oil Stocks	23-07-10	DJ
UK Long-Dated Gilt-Yields Rising Fast, Inverted Gilt Yield Curve Flattens	23-07-10	DJ
US Solar Fund announces plan to launch share buyback programme	23-07-10	AN
US Solar Fund Plc Provides Strategic Review Update	23-07-10	CI
US Solar Fund closes sale of 50% interest in Mount Signal 2	23-06-26	AN
MN8 Energy, Inc. completed the acquisition of a 50% stake in 200MW Operating Solar Plant Located in the Imperial Valley of Southern California from US Solar Fund Plc managed by New Energy Solar Manager Pty Limited for $52.2 million.	23-06-25	CI
US Solar Fund declares dividend on target despite value dip	23-05-30	AN
US Solar Fund plc Announces First Quarter 2023 Dividend, Payable on July 7, 2023	23-05-30	CI
FTSE 100 outperforms as Beazley, GSK shine	23-05-12	AN
TClarke extends gain; Eurocell slumps	23-05-12	AN
US Solar Fund terminates formal sales process, cites no adequate offer	23-05-12	AN
US Solar Fund Provides Strategic Review Update	23-05-12	CI

US Solar Fund plc is a United Kingdom-based renewable energy fund. The Companyâs investment objective is to provide investors with attractive, sustainable dividends along with an element of capital growth through its investment in a diversified portfolio of utility-scale solar power plants across North America and other Organization for Economic Co-operation and Development (OECD) countries in the Americas. The Company acquires or constructs, owns, and operates solar power assets that are expected to have an asset life of at least 30 years and generate stable and uncorrelated cash flows by selling electricity to creditworthy off takers under long-term power purchase agreements (PPAs). The Company is managed by New Energy Solar Manager, which has committed to 57 utility-scale solar assets, 55 of which are in the United States, totaling 1.2 gigawatts (GW). Its portfolio consists of about 41 projects across the United States.

Sector

Investment Trusts

Calendar

2024-05-21 - Annual General Meeting

More about the company

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

0.38

Average target price

Consensus

Sector Investment Trusts

	1st Jan change	Capi.
US SOLAR FUND PLC	-14.12%	158M
SCOTTISH MORTGAGE INVESTMENT TRUST PLC	+2.79%	14.53B
F&C INVESTMENT TRUST PLC	+2.58%	6.23B
POLAR CAPITAL TECHNOLOGY TRUST PLC	+11.29%	4.41B
ALLIANCE TRUST PLC	+9.89%	4.37B
GREENCOAT UK WIND PLC	-7.59%	4.02B
RIT CAPITAL PARTNERS PLC	+4.99%	3.56B
JPMORGAN GLOBAL GROWTH & INCOME PLC	+7.60%	3.24B
THE MONKS INVESTMENT TRUST PLC	+7.16%	3.11B
SMITHSON INVESTMENT TRUST PLC	-2.90%	2.77B