Bluefield Solar acquires three ground-mounted solar PV plants – Bluefield Solar Income Fund [BSIF], which is focused on the acquisition and management of a diversified portfolio of large scale solar energy in the UK, has acquired three sub-5 megawatt peak (‘MWp’) ground-mounted solar photovoltaic (‘PV’) plants, all of which are located in Dorset. The acquisition, which occurred on 20 March 2018, was for a total cash consideration of £19.9 m. This included transaction costs and working capital, and is funded from the company’s revolving credit facility. Each of the plants is fully operational, having been connected in March 2017.
The company also announced its second interim dividend for the financial year ending 30 June 2018 of 1.80 pence per ordinary share.
Click here to read James Carthew’s Investment Trust Insider on Bluefield Solar, entitled “The high-yield solar fund basking in UK’s rays”
More on Bluefield Solar
Bluefield Solar Income Fund is focused on the acquisition and management of a diversified portfolio of large scale solar energy in the UK. The company seeks to provide shareholders with an attractive return, principally in the form of semi-annual income distributions.
Bluefield Solar Income Fund invests in a diversified portfolio of solar energy assets, each located within the UK, with a focus on utility scale assets and portfolios on greenfield, industrial and/or commercial sites. The Group will target long life solar energy infrastructure, expected to generate stable renewable energy output over a 25 year asset life.
The company has the ability to use long term and short term debt at the holding company level as well as having long term, non-recourse debt at the SPV level.
BSIF : Bluefield Solar acquires three ground-mounted solar PV plants