NextEnergy Solar Fund announces Josephine Bush to its Board as Non-Executive Director

– UK, London –  NextEnergy Solar Fund Limited (LON: NESF) today announced the appointment of Josephine Bush to its Board as a non-executive Director with effect from 1 January 2022.

“We are delighted to welcome Josephine to the Board. We believe her long-standing commitment to the renewable energy sector will allow her to bring a wealth of knowledge and insight to the Board,” said Board Chairman, Kevin Lyon.

About Josephine Bush

Josephine Bush was a senior partner at Ernst & Young LLP for 14 years specialising in the renewable energy sector and amongst other things was responsible for developing the Ernst & Young LLP global renewables business plan. She was a member of the Ernst & Young LLP Power and Utilities Board and UK&I Governance Board.

She is a qualified solicitor and chartered tax adviser, and founded a not-for-profit, Sustainability & You, to raise awareness of climate change challenges and opportunities

Josephine Bush is a non-executive director, and Chair of the Audit, Risk and ESG committee, of Vulcan Energy Resources Ltd (ASX listed), a non-executive director of Net Zero Now Ltd and Foresight Sustainable Forestry Company PLC. She is also a member of the investment committee of Gresham House’s British Sustainable Infrastructure Fund.

About NextEnergy Solar Fund

NESF is a specialist solar power renewable energy investment company listed on the premium segment of the London Stock Exchange that invests in operating utility-scale solar power plants. The Company may invest up to 30% of its gross asset value in non-UK OECD countries, 15% in solar-focused private equity structures, and 10% in energy storage.

NESF currently has a diversified portfolio comprising 99 operating solar assets (primarily on agricultural, industrial, and commercial sites), and a $50m commitment into NextPower III (a private ESG solar infrastructure fund providing exposure to operating and in-development international solar assets).

The NESF portfolio has a combined installed power capacity of 895MW (including NextPower III MW on an equivalent look-through basis).

As of 30 September 2021, the Company had a gross asset value of £1,087 million, being the aggregate of the net asset value of the ordinary shares, the fair value of the preference shares and the amount of NESF Group debt outstanding, and a net asset value of £607million.

NESF’s investment objective is to provide ordinary shareholders with attractive risk-adjusted returns, principally in the form of regular dividends, by investing in a diversified portfolio of primarily UK-based solar energy infrastructure assets. The majority of long-term cash flows from its investments are inflation-linked.

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About NextEnergy Capital Group

NESF is managed by the NextEnergy Capital Group, a specialist solar investment manager, which has a strong track record in sourcing, acquiring, and managing operating solar assets. NEC Group is a leading player in the global solar investment sector and has over 200 team members with offices in UK, Italy, India, and the USA and assets under management of over $3.2bn across three institutional funds.

NextEnergy Capital Group donates at least 5% of its net annual profits to NextEnergy Foundation. NextEnergy Foundation is an international charity that was founded in 2016. Its mission is to participate proactively in the global effort to reduce carbon emissions, provide clean power sources in regions where they are not yet available, and contribute to poverty alleviation.

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