NextEnergy Solar Fund Ltd on Friday announced it extended a credit facility with Banco Santandar SA.

The Guernsey-based specialist investor in solar energy and energy storage said the £70 million facility, originally due to expire in June, is now available for an additional 12 months.

NextEnergy said the extension grants the company flexibility to pursue further investments or to make credit repayments from operating and other cash flows.

Chief Operating Officer Ross Grier said: ‘The extension of this revolving credit facility on improved terms is a testament to NextEnergy Solar Fund’s large portfolio of high-quality assets and the availability of debt financing for leading market participants.’

The company recently extended its other credit facility of £135 million to June 2026, and has in total drawn £163 million from an available £205 million of short-term credit.

NextEnergy shares were up 1.2% to 76.32 pence each in London on Friday afternoon.

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