NESF sees a drop in NAV as a result of weaker power price forecasts. While these prices continue to reflect available gas, the key driver of electricity prices in the UK, we can see medium term upside potential emerging if data centre demand starts to put pressure on slower supply growth. In the meantime the full year dividend target remains at 8.43p with a cover range of between 1.1x to 1.3x and NESF remains the highest yielding solar yieldco.
