Bluefield Solar wants to expand onto commercial and industrial rooftops

BSIF : Bluefield Solar wants to expand onto commercial and industrial rooftops

Bluefield Solar Income has published its first Annual Report. This covers the period from the incorporation of the company in May 2013 and the listing of the fund in July 2013 through to the end of June 2014.

Over the period the fund invested in ten solar plants – committing £147m to gain access to projects capable of generating 128MW. Two more deals since then brought the total to 143MW at a total cost of £162m.

The net asset value at the end of the period was 102.96p and the share price 102.62p. The company paid a dividend of 4p and they say things are on track to meet their 7p target for the current accounting year.

The statement says that the government is keen to promote the growth of the solar sector but wants to prioritise commercial and industrial rooftop installations over agricultural developments of the type that make up Bluefield’s portfolio. Bluefield Solar says however that it is “well positioned” to take advantage of these opportunities.