US Solar Fund (LSE:USFP), the London-listed renewable energy fund that invests in utility-scale solar power plants across North America, said on Monday it has extended the exclusivity period granted to the prospective buyer of its entire portfolio by a further 30 days, to 15 November.
The company's US legal counsel has advised that Federal Energy Regulatory Commission approval timelines have recently lengthened and, based on comparable processes, could take up to five months to complete.
The extension gives the buyer more time to assess the performance of three recently remediated assets, Valley Centre, Granger and Chiloquin, so that their stabilised post-repair output can be evidenced and full value ascribed to them.
US Solar Fund said it opted for this approach in preference to an earn-out or similar structure, which it said would have added complexity to the transaction.
This is the second extension to the exclusivity window since the Board first granted a 90-day period in June, following a revised non-binding letter of intent for the sale of the entire portfolio; a 60-day extension to 16 October was granted in August to allow for tax analysis, documentation and confirmatory due diligence.
Chiloquin has featured in the company's operational updates before: first-quarter generation came in 8.8% below long-term forecasts and 0.9% below revised 2026 forecasts, with technical issues, including remediation carried over from 2025 at Chiloquin, cited as the primary driver, and the company has said it expects repairs to depress first-half output before performance improves later in the year.
Read more about US Solar Fund
- 17/08/26US Solar Fund extends exclusivity on portfolio sale to October
- 16/06/26US Solar Fund grants 90-day exclusivity over potential sale of entire portfolio
The identity of the buyer and financial terms remain undisclosed, and the potential transaction still requires definitive legal documentation and any necessary regulatory approvals. Should the deal proceed, it will be put to a shareholder vote, and the company reiterated that the UK Takeover Code is not expected to apply, as the transaction is structured as a sale of underlying assets rather than a change of corporate control.