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NEW - NEW ENERGY SOLAR LIMITED


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Company change ...now New Energy Solar

New Energy Solar was established in November 2015 to invest in a diversified portfolio of solar assets across the globe and help investors benefit from the global shift to renewable energy. The Business acquires large scale solar power plants with long term contracted power purchase agreements. In addition to attractive financial returns, this strategy generates significant positive environmental impacts for investors.

 

Since establishment, New Energy Solar has raised over A$500 million of equity, acquired a portfolio of world-class solar power plants, and has a deep pipeline of opportunities primarily across the United States and Australia.

 

New Energy Solarâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢s stapled securities trade on the Australian Securities Exchange under the ticker, NEW.

Trading around $1.25, lists unaudited NAV at $1.61

 

The company notes the recent media speculation from news service SparkSpread regarding a potential asset sale.

 

While NEW intends to be a long-term owner of solar power assets, from time to time the Business tests the market value of selected assets. Such market value testing informs and, typically, reinforces the Businessâââہ¡Ãƒâ€šÃ‚¬ÃƒÆ’¢Ã¢Ã¢â€š¬Ã…¾Ãƒâ€šÃ‚¢ portfolio value. It also allows the NEW Board to regularly assess the risk-adjusted returns available from divestment compared to long-term asset ownership.

 

At this stage no decision has been made to proceed with any asset sale. NEW will keep investors informed if any decisions are made in this respect.

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