IN BRIEF: US Solar Fund Buys 4 Solar Projects Serving Portland, Oregon

US Solar Fund PLC - solar power asset acquisition and operation in North America Signs binding ...

Alliance News 31 May, 2020 | 3:35PM
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US Solar Fund PLC - solar power asset acquisition and operation in North America

Signs binding agreement for fifth acquisition. Will buy from Southern Current LLC a cash equity interest in a portfolio of four mechanically-complete, utility-scale solar power projects in the US state of Oregon. The projects will sell all of their electricity to a utility serving the city of Portland. US Solar Fund says it will fund the acquisition with USD23 million in cash on hand and USD43 million in long-term bank debt. Will use the 15% remaining from the USD200 million that US Solar Fund raised in its initial public offering to pay down the project-level debt of a previous acquisition.

Current stock price: USD0.96

12-month change: down 5.9%

By Tom Waite; thomaslwaite@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
US Solar Fund Ord 0.95 USD 0.00 -

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