NESF’s interim NAV has dropped by 5.2% owing to an increased discount rate and a decrease in short term forecast power prices. Meanwhile the company continues to deliver on its capital recycling programme with the first announced disposal of an asset. Consideration of £15.2m for the site will be used to reduce the revolving credit facility. The Capital Recycling Programme aims to allow the fund to take advantage of demand for mature assets and recycle capital for balance sheet management or further investment into its pool of development opportunities.
