Investment Adviser Announces Further Senior Hire
11 October 2021
Bluefield Solar Income Fund
("Bluefield Solar" or the "Company")
Investment Adviser Announces Further Senior Hire
Bluefield Solar (LON:BSIF) is a UK income fund focused on acquiring and actively managing UK-based renewable energy and storage projects to generate progressive, long term dividends for its shareholders whilst furthering the decarbonisation of the energy system. The Company is pleased to announce the appointment of Michael Covington as Investment Director at the Company's investment adviser.
Michael Covington joins from Alpha Real Capital where he was the renewables investment director from November 2017 to September 2021. Prior to that, he was a managing partner at the Barcelona based sustainable investment specialist, SI Capital Private Equity. Michael also brings significant investment banking experience from his time at Dresdner Kleinwort Benson and Piper Jaffray. Since May 2021, he has been audit committee chair of London listed Getech Group plc (GTC:LN), a leader in data and knowledge for the exploration and development of new energy and strategic mineral resources.
James Armstrong, Managing Partner at Bluefield Partners, said: "We are delighted to announce the appointment of Michael. He joins us as Investment Director and will add significant wind, solar and capital markets expertise alongside our existing team's extensive investment capabilities and experience.
"Michael has long and relevant M&A experience in the European wind and solar sectors where we are seeing many attractive opportunities following the broadening of the Company's mandate in June 2020 and building on the recent portfolio acquisition of 109 small scale UK onshore wind turbines from Arena Capital Partners for approximately £60 million."
Bluefield is already making excellent progress in broadening its focus, and is looking to diversify its portfolio, branching out into storage and other renewable technologies.
Michael Covington commented: "I am so excited to be joining the Bluefield Partners' team having personally followed closely their impressive progress since the IPO of Bluefield Solar in 2013. I am keen to add my experience in the wind and solar sectors to the Bluefield Partners investment platform."
- Ends -
For further information:
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Bluefield Partners LLP
(Company Investment Adviser)
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Tel: +44 (0) 20 7078 0020
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Numis Securities Limited
(Company Broker)
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Tel: +44 (0) 20 7260 1000
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Ocorian
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Tel: +44 (0) 1481 742 742
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Media enquiries:
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Tel: +44 (0) 20 7466 5000
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Notes to Editors
About Bluefield Solar
Bluefield Solar is a UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to generate stable, long term 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 wind, hydro and storage technologies. The majority of the Company's revenue streams are regulated and non-correlated to the UK energy market. 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 613 MWp.
Further information can be viewed at www.bluefieldsif.com
LEI Code 2138004ATNLYEQKY4B30
About Bluefield Partners LLP
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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