The UK-focused renewables energy infrastructure fund, Bluefield Solar (BSIF), has made its first acquisition of 2020.
On 20 January 2020, BSIF 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 £13.9m, including transaction costs and working capital, and were funded from the company’s revolving credit facility.
About BSIF
BSIF 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).
BSIF: Bluefield Solar completes its first acquisitions of 2020