Solar fund gets £100m finance facility

An investment firm has delivered a £100 million finance facility for a solar fund. Macquarie Infrastructure Debt Investment Solutions (MIDIS) has structured the long-term debt facility for NextEnergy Solar Fund (NESF) – the money raised will […]

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By Jonny Bairstow

An investment firm has delivered a £100 million finance facility for a solar fund.

Macquarie Infrastructure Debt Investment Solutions (MIDIS) has structured the long-term debt facility for NextEnergy Solar Fund (NESF) – the money raised will be used to refinance 21 solar farms.

These solar plants will have a total installed capacity of 241MW.

MIDIS previously arranged £55 million in project financing for NESF to a portfolio of five operational UK solar assets in April 2016.

Tom van Rijsewijk, Associate Director at MIDIS said: “We are delighted to be working with NESF again and provide them with a second long term debt facility. The terms reflect an innovative hybrid structure – made up of bank and institutional tranches which each reflect the different preferences for each type of lender.”

Since 2012, MIDIS has invested approximately £900 million in renewables transactions globally, across 15 projects, totaling approximately 2GW of installed capacity.

A global initiative to boost solar projects by making the financing and development process simpler was launched last year.