Research on NextEnergy Solar Fund Ltd (NESF:LON) from Longspur Clean Energy
NESF has reported a drop in Q1 NAV, as a result of weaker power price forecasts; this was partially offset by BESS revenue forecasts and revaluation of investments. Importantly, the decline in NAV and resulting increase in gearing have not breached the debt covenants but will restrict further debt drawdowns. However, the dividend guidance remains unchanged at 4.5p to 5.1p range.
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