Update research from QuotedData

RNS Number : 8314F

Bluefield Solar Income Fund Limited

20 July 2021

 

Bluefield Solar Income Fund - Update research from QuotedData

1^st July 2021

Transformational deal

Bluefield Solar Income Fund (BSIF)'s ambition to expand beyond its narrow focus on solar power generation looks close to fruition, with the announcement of a deal to buy a portfolio of 109 wind turbines, located across the UK. This is the first in a series of transactions aimed at diversifying BSIF's asset base. The target is to have 25% of its portfolio in assets other than solar within 18 months.

BSIF's debt facilities are almost fully utilised. To finance the deal, BSIF is turning to investors and has published a prospectus in connection with an initial placing, open offer, offer for subscription, and a subsequent placing programme. In the first instance, BSIF hopes to raise gross proceeds of up to £150m by issuing up to about 127.1m shares at 118p. If shareholders approve, this and subsequent issues could more than double the equity base of the company. The managers have identified a substantial pipeline of potential acquisitions, and BSIF should have a more diversified base of assets, technologies and revenue streams a couple of years from now.

Full research:

https://quoteddata.com/research/bluefield-solar-income-fund-transformational-deal/

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NB: Marten & Co was paid to produce this note on Bluefield Solar Income Fund Limited and it is for information purposes only. It is not intended to encourage the reader to deal in the security or securities mentioned in this report. Please read the important information at the back of this note. QuotedData is a trading name of Marten & Co Limited which is authorised and regulated by the FCA. Marten & Co is not permitted to provide investment advice to individual investors categorised as Retail Clients under the rules of the Financial Conduct Authority.

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