NextEnergy Solar Fund Manager says share price “unjustified” after solid interims
–News Direct–
NextEnergy Solar Fund (NESF) Manager Ross Grier visits the Proactive London studio to speak with Thomas Warner following the release of interim results for the six months ended 30 September 2023.
Grier discusses the fund's performance, noting a slight decrease in net asset value, primarily due to an increased discount rate for UK assets, reflecting the current high-interest rate market. He says NESF successfully launched the Whitecross Solar Farm (36 megawatts) in the UK and is advancing the construction of the Camilla Battery Storage asset, set to be operational in the first half of 2024.
A key achievement highlighted by Greer was the progress in NESF's capital recycling program, which involves selling assets to fund growth opportunities. This strategy was exemplified by the profitable sale of the Hatherden asset at a significant premium.
Focusing on generating total returns for investors, NESF prioritises operational excellence and dividend growth, maintaining a strong track record as a dividend payer with a current target of 8.35 pence.
Looking ahead, Grier says that NESF will continue emphasising operational efficiency across its assets, advancing the capital recycling program, and integrating the Camilla battery storage asset into its portfolio. He suggests that the current share price is "unjustified" given the performance of the fund so far this year. He projects a positive outlook for NESF, anticipating a share price increase aligned with net asset value as market sentiment improves.
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View source version on newsdirect.com: https://newsdirect.com/news/nextenergy-solar-fund-manager-says-share-price-unjustified-after-solid-interims-478636942
NextEnergy Solar Fund Ltd
COMTEX_443860110/2655/2023-11-22T09:35:49
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