Acquisition of three new PV plants

RNS Number : 9031A

Bluefield Solar Income Fund Limited

24 January 2020

 

24 January 2020

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

Acquisition of three new PV plants

Bluefield Solar (LON: BSIF), a sterling income fund that invests in UK-based solar assets, is pleased to announce the Company's first acquisition in 2020. Unless otherwise noted herein, the information provided in this announcement and any asset valuations underlying such information is unaudited.

On 20 January 2020, the Company completed the acquisitions of three operational ground-mounted solar photovoltaic ('PV') plants. Two of the plants, Gretton and Thornton are based in England, and the third, Wormit, is based in Scotland.  The three plants provide 13.5 megawatt peak ('MWp') of 1.3 Renewable Obligation Certificate ('ROC') capacity. They were acquired for a cash consideration of £13.9 million, including transaction costs and working capital, and were funded from the Company's revolving credit facility.

- Ends -

For further information:

Bluefield Partners LLP (Company Investment Adviser) James Armstrong / Mike Rand / Giovanni Terranova	Tel: [phone] www.bluefieldllp.com
Numis Securities Limited (Company Broker) Tod Davis / David Benda	Tel: [phone] www.numis.com
Estera International Fund Managers (Guernsey) Limited (Company Secretary & Administrator) Kevin Smith	Tel: [phone] www.estera.com
Media enquiries: Buchanan (PR Adviser) Henry Harrison-Topham / Henry Wilson / Victoria Hayns	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 UK-based solar projects to generate renewable energy for periods of typically 25 years or longer.  The Company's primary objective is to deliver to its shareholders stable, long term sterling income via quarterly dividends, which are linked to RPI.  The majority of the Group's revenue streams are regulated and non-correlated to traditional markets.  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 478 Megawatt peak (MWp).

Further information can be viewed at www.bluefieldsif.com

About Bluefield Partners LLP ('Bluefield')

Bluefield was established in 2009 and is an investment adviser to companies and funds investing in solar energy infrastructure. It has a proven record in the selection, acquisition and supervision of large-scale energy and infrastructure assets in the UK and Europe.  The team has been involved in over £1.5 billion of solar PV funds and/or transactions in both the UK and Europe since 2008, including over £800 million in the UK since December 2011.

Bluefield has led the acquisitions of, and currently advises on, over 85 UK based solar PV assets that are agriculturally, commercially or industrially situated.  Based in its London office, Bluefield's partners are supported by a dedicated and highly experienced team of investment, legal and portfolio executives.  Bluefield was appointed Investment Adviser to the Company in June 2013. 

 

END

 

 

ACQFLFFSLSISFII