NextEnergy Solar Fund (NESF) has extended its existing £70m short-term revolving credit facility (RCF) with Santander, that was previously due to expire in June 2024. The £70m RCF extension is now available until June 2025 and benefits from improved terms with a margin of 150bps over SONIA (Sterling Overnight Index Average) compared with 160bps over SONIA under the earlier terms. As at 7 May 2024, the company's total interest cost for any amount drawn under this RCF was 6.7% due to SONIA being at 5.2%. This latest announcement follows on from NESF's recent announcement of the extension of its other RCF facility of £135m to June 2026 with two additional 12-month extension options available at NESF's sole discretion. NESF says that these two RCF extensions demonstrate the appetite of its banking partners to provide debt to NESF at attractive terms and underline its belief that debt remains readily available to it "as a leading specialist in the solar energy and energy storage sector".