Update from QuotedData

Bluefield Solar Income Fund Limited

25 April 2024

 

 

Bluefield Solar Income Fund - Update from QuotedData

25^th April 2024

Fundamentals shine despite discount

In common with the other funds in the renewable energy sector, the last six months have continued what has been a challenging period for the Bluefield Solar Income Fund (BSIF), with its ongoing fundamental performance (including strong revenue and earnings growth) failing to reverse a steady slide in its shares which began back in May 2023. Despite this, the company has continued to deliver solid NAV growth and market-leading shareholder distributions thanks to a range of contractual arrangements (discussed on page 6) that underpin its assets.

Whilst the falling share price remains frustrating for investors, positively, this does not appear to be a reflection on the company itself, but rather broader macro-economic conditions and negative sentiment surrounding UK companies, the investment companies sector and renewable energy infrastructure in particular. The board has signalled its dissatisfaction with the situation by authorising a £20m share buyback, which is currently underway.

With growth accelerating and a recently announced strategic partnership providing an avenue for the ongoing development of its pipeline, the outlook remains attractive, as does a well-covered dividend yield approaching 9%.

Full Research:

https://quoteddata.com/research/bluefield-solar-income-fund-fundamentals-shine-discount-qd/

This research is also available free on our website www.quoteddata.com where you will also find news, performance data and factsheets on every London listed Investment Company. QuotedData writes and distributes research on a number of quoted companies, facilitates meetings between those companies and existing and potential investors and assists in raising additional capital where required.

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 Financial Conduct Authority. 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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