US solar infrastructure fund raises $200m on London Stock Exchange

Fidante Capital has raised US$200m (€177m) on the London Stock Exchange for a solar infrastructure fund focused on the Americas.

US Solar Fund is the exchange’s first premium listed investment flotation of 2019.

The fund is structured as a UK investment trust and will invest in solar power assets in North America and other OECD countries in the Americas.

US Solar Fund has identified US$4.8bn worth of potential assets already, comprising more than 60 projects in 13 US states.

It is targeting a growing annual dividend of 5.5% once all assets are fully operational.

The fund is managed by New Energy Solar, which runs a similar fund listed on the Australian Securities Exchange.

John Armstrong-Denby, head of corporate finance at Fidante Capital, said the fund represented “a unique opportunity for UK investors to access US solar investment”.

He added: “Solar power generation is a rapidly growing infrastructure investment area, particularly in the US. We expect solar to become an increasingly important source of new electricity generation in the US.

“This in turn offers UK investors the potential for predictable, attractive, risk-adjusted returns and geographic diversification combined with the positive environmental impact of supporting the transition from fossil fuels to renewable energy.”

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  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

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