Director Appointment

RNS Number : 2193C

Bluefield Solar Income Fund Limited

07 October 2022

 

7 October 2022

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

Director Appointment

Bluefield Solar (LON: BSIF), a UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system , is pleased to announce the appointment of Mr Michael Gibbons as an independent non-executive director. Mr Gibbons appointment follows a rigorous, externally facilitated, selection process.

Michael Gibbons CBE FEI holds an MA from Downing College, Cambridge, is a Fellow of the Energy Institute, and was awarded an OBE in 2008 and CBE in 2015 for services to regulatory reform.  He has held a very wide range of senior appointments in the private and public sectors. The main part of his career has been in the energy industry, taking senior positions in ICI, Powergen and Elexon, who run central systems in the GB wholesale electricity market, and where he was Chair from 2013-2022. He has also worked on carbon capture and storage at Board level for several developers and became Chair of the Carbon Capture and Storage Association in 2014-2017.  He was also Chair of the British Committee of the World Energy Council from 2009 to 2014.

He has also served British governments from 2002 as a member of the Better Regulation Task Force and then the Better Regulation Commission and was appointed the founding Chair of the independent Regulatory Policy Committee from 2009-2017 by the then Secretary of State for Business, Innovation and Skills. He has extensive experience on other Boards including at ICI and Powergen subsidiaries, an acute NHS Trust, and was Chair of the Hertfordshire Family Mediation Service 2005-2009.  He conducted the "Gibbons review" for Government of dispute resolution in the workplace, and has extensively advised the European Commission and the OECD on regulatory and energy issues.

John Rennocks, Chairman of Bluefield Solar, said:

"I am delighted to welcome Michael to the Bluefield Solar board. His appointment comes at an exciting time in the Company's development, with Bluefield developing a significant proprietary pipeline of new build solar that will play a key role in the next phase of growth in the UK's solar market, alongside complementary opportunities in wind and storage.

"Michael brings to our Board very extensive experience in energy markets from his time in electricity generation and also as a major energy customer together with active involvement in market structures and disciplines. His experience will prove invaluable as the industry focuses on establishing new approaches which are fair and reasonable in challenging circumstances for both customers and suppliers in the years ahead."

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For further information: Bluefield Partners LLP (Company Investment Adviser) James Armstrong / Neil Wood / Giovanni Terranova	Tel: [phone] www.bluefieldllp.com
Numis Securities Limited (Company Broker) Tod Davis / David Benda / Vicki Paine	Tel: [phone] www.numis.com
Ocorian (Company Secretary & Administrator) Patrick Ogier	Tel: [phone] www.ocorian.com
Media enquiries: Buchanan (PR Adviser) Henry Harrison-Topham / Henry Wilson	Tel: [phone] www.buchanan.uk.com [e-mail]

Notes to editors:

About Bluefield Solar

Bluefield Solar is a sterling income fund focused on acquiring and managing renewable energy and storage projects in the UK, to provide long term, growing dividends for its shareholders whilst furthering the decarbonisation of the energy system.  Not less than 75% of the Company's gross assets will be invested into UK solar assets.  The Company can also invest up to 25% of its gross assets into other technologies, such as wind and storage.  The majority of the Company's revenue streams are regulated and non-correlated to short term UK energy market fluctuations.  Bluefield Solar owns and operates one of the UK's largest, diversified portfolios of solar assets with a combined installed power capacity in excess of 766 MWp.

Bluefield Solar is listed on the Main Market of the London Stock Exchange and is a member of the FTSE 250, classified within the Closed End Investments subsector.

Further information can be viewed at   www.bluefieldsif.com

About Bluefield Partners

Bluefield Partners LLP was established in 2009 and is an investment adviser to companies and funds investing in renewable energy infrastructure.  It has a proven record in the selection, acquisition and supervision of large-scale energy assets in the UK and Europe.  The team has been involved in over £4 billion renewable funds and/or transactions in both the UK and Europe, including over £1 billion in the UK since December 2011.

Bluefield Partners LLP has led the acquisitions of, and currently advises on, over 100 UK based solar PV assets that are agriculturally, commercially or industrially situated.  Based in its London office, it is supported by a dedicated and experienced team of investment, legal and portfolio executives.  Bluefield Partners LLP was appointed Investment Adviser to Bluefield Solar in June 2013.

 

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