The Company seeks to provide Shareholders with an attractive return, principally in the form of quarterly income distributions by being invested primarily in solar energy assets located in the UK. It also has the ability to invest a minority of its capital into other renewable energy assets (including non-subsidised assets), energy storage assets.
An annual base fee of 1 0.80% of NAV up to and including GBP 750m 2 0.75% of NAV above GBP 750m up to and including GBP 1bn and 3 0.65% of NAV above GBP 1bn. The base fee will be payable quarterly in arrears in cash.
Dividends will continue to be paid to Shareholders whenever, in the opinion of the Directors, the financial position of the Company justifies such payment, subject to the Company being able to satisfy the solvency test, as defined under the Companies Law, immediately after payment of such dividend. The Board is expecting to set a target dividend of not less than 8.0 pence per Share. The Board will seek to maintain this level of dividend, or grow it progressively where appropriate thereafter, but there will no longer be a formal dividend policy targeting an annual increase in the dividend in line with RPI.