Potential Portfolio Sale - Exclusivity Extension

US Solar Fund PLC

19 October 2026

 

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This announcement contains inside information for the purposes of Article 7 of the UK Market Abuse Regulation. Upon publication, this inside information is in the public domain.

19 October 2026

US SOLAR FUND PLC

(the 'Company')

Potential Portfolio Sale – Additional Extension of Exclusivity Period

US Solar Fund plc (LON: USF (USD)/USFP (GBP)), the renewable energy fund investing in utility-scale solar power plants across North America, announces an update on the disposal of its portfolio of solar assets (the “Potential Transaction”).

Detailed diligence has materially progressed, with a number of significant milestones concluded  including seeking advice on the current timing of any required regulatory approvals. The Company’s US legal counsel has advised that Federal Energy Regulatory Commission (FERC) regulatory approvals timelines in the US have recently extended and, based on current comparable processes, may take up to five months.  

The Board has agreed to extend the exclusivity period by a further 30 days which will now expire on 15 November 2026. The extension has been granted in order for the buyer to undertake further diligence on the performance of recently remediated assets including Valley Centre, Granger and Chiloquin, ensuring that their stabilised performance post remediation can be evidenced allowing for full value to be ascribed to these assets. This decision has been taken in preference to an earn out (or similar) structure that would introduce additional complexity in the transaction.  

The Potential Transaction remains subject to entry into definitive documentation, and the receipt of any regulatory approvals required in connection with the Potential Transaction. The identity of the Potential Buyer and further details of the Potential Transaction are not being made public at this time. While discussions are ongoing, there can be no certainty that a transaction will be agreed upon or as to the final terms of any such agreement. Should the Potential Transaction proceed, it is expected that it will be subject to a shareholder vote. The Board is committed to maximising value for shareholders and will continue to provide further updates, including engaging with shareholders when appropriate. 

ENDS

US Solar Fund Meredith Frost (Amber)	[phone]
Cavendish Capital Markets Limited Tunga Chigovanyika	[phone]
KL Communications Charles Gorman Amy Levingston Smith	[phone] [e-mail]

About US Solar Fund plc

US Solar Fund plc, established in 2019, listed on the premium segment of the London Stock Exchange in April 2019.

The solar power assets that the Company acquires or constructs are expected to have an asset life of at least 30 years and generate stable and uncorrelated cashflows by selling electricity to creditworthy offtakers under long-term power purchase agreements (or PPAs). The Company's portfolio currently consists of 41 operational solar projects with a total capacity of 443MWDC and a weighted average of 9.4 years PPA term remaining as at 30 June 2026, all located in the United States.

Further information on the Company can be found on its website: http://www.ussolarfund.co.uk.

About Amber Infrastructure Group

Amber Infrastructure Investment Advisor LLC, a member of the Amber Infrastructure Group, was appointed as the Company’s Investment Manager on 1 December 2023.

Amber is part of Boyd Watterson Global Asset Management Group LLC, a global diversified infrastructure, real estate and fixed income business with over $39 billion in assets under management and over 300 employees with offices in eleven US cities and eleven countries.

Amber itself is a specialist international investment manager focused on investment, asset management and fund management. Amber currently manages or advises nine funds and managed accounts (two listed and seven private) with c.£5 billion in funds under management. With a presence across 11 countries, Amber manages over 200 infrastructure investments representing total assets under management (‘AUM’) of £14 billion as at 30 June 2026. Amber’s core business focuses on managing infrastructure assets across the public, transport, energy, digital and demographic infrastructure sectors internationally. Amber is headquartered in London with offices in Europe, North America, Australia and New Zealand.

Further information on Amber can be found on its website: http://www.amberinfrastructure.com

Important information

This announcement is made without prejudice to ongoing discussions in respect of the Potential Transaction described herein, and the terms thereof. There can be no certainty that any transaction will proceed, nor as to the final terms or timing of any transaction.

As it is intended that the Potential Transaction will comprise the sale of the Company’s portfolio of solar generation assets, the UK City Code on Takeovers and Mergers (the “Code”) is not expected to apply. The receipt of the non-binding letter of intent and the agreement by the Board to grant (and extend) an exclusivity period does not constitute an offer for the purposes of the Code.

Nothing in this announcement shall form the basis of or constitute any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any shares or any other securities nor shall it (or any part of it) or the fact of its distribution, form the basis of, or be relied on in connection with, any contract therefor. None of the Company’s shareholders should base any financial decision on this announcement.  Any shareholder action required in connection with the potential transaction will only be set out in documents sent to or made available to shareholders, and any decision made by such shareholders should be made solely and only on the basis of information provided in those documents.

A further announcement will be made in due course.

The person responsible for making this announcement on behalf of the Company is Ruth Wright (JTC (UK) Limited).

 

END