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US Solar Fund PLC - London-based investment company focusing on owning and operating solar power assets in North America - Says that six of its Oregon projects have signed new long-term contracts to sell renewable energy certificates. The contracts and revised estimates of future renewable energy certificate prices are expected to boost net asset value by $7.6 million, based on NAV as at September 30 of $286.3 million. They are also expected to contribute to additional operational cash dividend coverage from 2024 onwards.
Tom O’Shaughnessy, head of North America at Amber, US Solar Fund’s manager, says: ‘US state-level policies are mandating increasing levels of renewables output and driving rising renewable power prices, particularly from operational solar assets. These supportive long-term trends underpin US Solar Fund’s portfolio with favourable income characteristics and a more stable outlook for the asset class.’
Current stock price: $0.52
12-month change: down 39%
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