Universities Superannuation Scheme (USS) invests GBP100mn in Next Energy Solar Fund
The investment vehicle owned by Universities Superannuation Scheme (USS) has made an investment in NextEnergy Solar Fund (NESF), an energy fund managed by NextEnergy Capital.
The GBP100 million (US$121 million) total investment for 100 million preference shares at GBP1 per share will be used to repay GBP90 million (US$108 million) in short-term debt facilities and to invest in new pipeline opportunities.
In November 2018, 100 million preference shares were also made under a subscription agreement with AIP Solco, a subsidiary of AIP Infrastructure.
The facilities are expected to due by February and July 2020 when the short-term debt facilities are expected to mature. NextEnergy will be able to redeem these preference shares from April 2030 until 2036, when any unredeemed shares may be converted to ordinary shares or an unlisted B class of shares.
Country updates
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August 12, 2019
Scotland government establishes board for delayed Edinburgh hospital
The Scottish government has established a board to provide advice and suggestions for the readiness of the delayed Royal hospital for sick children in Edinburgh. The senior trade union official h...
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August 09, 2019
Macquarie Capital invests in UK rural broadband business
Macquarie Capital, the corporate advisory, capital markets and principal investment arm of Macquarie Group (Macquarie), is to invest in rural superfast broadband business Voneus Limited (Voneus), with...
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August 08, 2019
Wales issues consultation on Draft National Development Framework
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August 07, 2019
Assured Guaranty Wraps University of Leicester Bond Issuance
Assured Guaranty (Europe) announced that it has guaranteed principal and interest payments on GBP 124 million (US$ 150.84 million) of bonds issued by Freemens Common Village LLP. The bond issuance wil...
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August 02, 2019
Infrastructure partners group formed to facilitate creation of net-zero economy in the UK
Mott MacDonald in the UK has formed a group with Anglian Water, Skanska, Transport for London, UKCRIC and the UK Green Building Council to identify and begin tackling the infrastructure industry&rsquo...
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