The NextEnergy Solar Fund (NESF) has raised £61.4 million after releasing new shares on 10 February.

The company will issue a total of 59,750,000 new ordinary shares at the price of 102.77p per share following the offer earlier this month.

NESF has letters of intent that grant it a pipeline of “assets available for acquisition” totalling 148MW. According to the company, the majority of these are certified for 1.4ROCs under the renewable obligation.

“We are extremely pleased with the results of this placing and offer. Shareholders, existing and new, continue to strongly support the company and its growth ambitions,” said Kevin Lyon, chairman, NESF. “As a result, since the company's IPO 10 months ago, its market capitalisation has nearly tripled through further share issues, including this Issue.”