Overview
Bluefield Solar Income Fund aims to pay shareholders an attractive return, principally in the form of regular sector-leading income distributions, by being invested primarily in solar energy assets located in the UK. In July 2020, shareholders approved proposals to expand the remit and Bluefield Solar Income Fund began making investments in onshore wind and energy storage projects soon after.
Bluefield Solar Income Fund’s primary objective is to deliver to its shareholders stable, long-term sterling income via quarterly dividends. The majority of the group’s revenue streams are regulated and non-correlated to the UK energy market.
The underlying investments are held in SPVs which, in turn, are held through the trust’s wholly-owned and UK based portfolio holding company, Bluefield Renewables 1 Ltd (BR1).
You can access the company’s website here
Fundamentals
Price
Research History
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31 Oct 2024 13 min read
Bluefield Solar Income Fund – Compelling opportunity?
Compelling opportunity? Despite what appears to be a resilient business model, high dividend payout, and large development pipeline, its discount might suggest that investors continue to overlook the Bluefield Solar Income Fund (BSIF). It is possible that this is related to the negative sentiment surrounding the renewable energy sector. Positively, despite the troubles of the […]
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13 min read
Bluefield Solar Income Fund – Compelling opportunity
Compelling opportunity Despite its resilient business model, high dividend payout, and deep development pipeline, investors have continued to overlook the Bluefield Solar Income Fund (BSIF). This appears to be related to the negative sentiment surrounding the renewable energy sector. Positively, despite the troubles of the broader sector, we see a clear path for the company’s […]
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14 min read
Bluefield Solar Income Fund – Compelling opportunity
Compelling opportunity Despite its resilient business model, record of high dividends, and deep development pipeline (with an extensive list of upcoming projects), investors have continued to overlook the Bluefield Solar Income Fund (BSIF). This appears to be related to the negative sentiment surrounding the renewable energy sector. Positively, despite the troubles of the broader sector, […]
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11 Oct 2024 1 min read
Interview with James Armstrong from Bluefield Solar Income
In this week’s show, James Carthew spoke to James Armstrong from Bluefield Solar Income. If you were looking for the first part of QuotedData’s show, focused on the roundup of the week’s news click here If there is a guest speaker you’d particularly like to hear from, please email Aiman. Additionally, if you would prefer to watch […]
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24 Apr 2024 13 min read
Bluefield Solar Income Fund – Fundamentals shine despite discount
Bluefield Solar Income Fund Investment companies | Update | 24 April 2024 Fundamentals shine despite discount The manger comments that, in common with the other trusts in the renewable energy sector, the last six months have continued what has been a challenging period for the Bluefield Solar Income Fund (BSIF). It adds that the trust’s […]
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13 min read
Bluefield Solar Income Fund – Fundamentals shine despite discount
Bluefield Solar Income Fund Investment Companies | Update | 24 April 2024 Fundamentals shine despite discount In common with the other trusts 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 the trust’s ongoing fundamental performance failing to reverse […]
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13 min read
Bluefield Solar Income Fund – Fundamentals shine despite discount
Bluefield Solar Income Fund Investment companies | Update | 24 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 […]
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14 min read
Bluefield Solar Income Fund – Fundamentals shine despite discount
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 […]
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17 Oct 2023 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2023
Third quarter of 2023 Investment Companies | Quarterly roundup | October 2023 Kindly sponsored by abrdn ‘Uncomfortable’ Following a fast start to the first half of the year, globally equities took a breather in Q3, as markets assessed the implications of the worst bond sell-off in a generation. Yields on 10-year US treasuries and UK […]
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02 Oct 2023 12 min read
Bluefield Solar Income Fund – Record year supports growth strategy
Bluefield Solar Income Fund Investment companies | Update | 2 October 2023 Record year supports growth strategy While shares across the whole of the renewable energy infrastructure sector have been under pressure over the past 12–18 months, the execution by Bluefield Solar Income Fund (BSIF) has remained impressive, helping it to maintain its record of […]
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12 min read
Bluefield Solar Income Fund – Record year supports growth strategy
Bluefield Solar Income Fund Investment companies | Update | 2 October 2023 Record year supports growth strategy While share prices across the whole of the renewable energy infrastructure sector have been under pressure over the past 12–18 months, the execution by Bluefield Solar Income Fund (BSIF) has remained impressive, helping it to maintain its record […]
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11 min read
Bluefield Solar Income Fund – Record year supports growth strategy
Bluefield Solar Income Fund Investment companies | Update | 2 October 2023 Record year supports growth strategy While shares across the whole of the renewable energy infrastructure sector have fallen over the past 12–18 months, the manager highlights that the execution by Bluefield Solar Income Fund (BSIF) has remained impressive, while maintaining its record of […]
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09 Mar 2023 64 min read
QuotedData’s Economic and Political Monthly Roundup March 2023
Economic and Political Monthly Roundup Investment companies | Monthly | March 2023 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage […]
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12 Jan 2023 22 min read
Bluefield Solar Income Fund – Politicians cloud otherwise bright future
Bluefield Solar Income Fund Investment companies | Annual overview | 12 January 2023 Politicians cloud otherwise bright future There are a lot of moving parts that go into making Bluefield Solar Income Fund (BSIF) run smoothly. However, the net result should be a fund that offers investors attractive, relatively predictable and largely inflation-linked levels of […]
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21 min read
Bluefield Solar Income Fund – Politicians cloud otherwise bright future
Bluefield Solar Income Fund Investment companies | Annual overview | 12 January 2023 Politicians cloud otherwise bright future? There are a lot of moving parts that go into making Bluefield Solar Income Fund (BSIF) run smoothly. However, when brought together as one, the aim is that BSIF should be a fund that offers investors attractive, […]
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22 min read
Bluefield Solar Income Fund – Politicians cloud otherwise bright future
Bluefield Solar Income Fund Investment companies | Annual overview | 12 January 2023 Politicians cloud otherwise bright future As we describe in this note, there are a lot of moving parts that go into making Bluefield Solar Income Fund (BSIF) run smoothly. However, the net result should be a fund that offers investors attractive, relatively […]
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13 Oct 2022 14 min read
QuotedData’s Investment Companies Quarterly Review – Third Quarter 2022
Third quarter of 2022 Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Piling on the misery In the face of rising inflation, exacerbated by the war in Ukraine, central bankers have condemned for their relative inaction. However, in the third quarter of 2022, they stepped up a gear. Last month’s economic and political roundup […]
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06 Oct 2022 111 min read
QuotedData’s Economic and Political Monthly Roundup October 2022
Economic and Political Monthly Roundup Investment companies | Monthly | October 2022 A collation of recent insights on markets and economies taken from the comments made by chairs and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to […]
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15 Dec 2021 11 min read
Bluefield Solar Income Fund – Executing on revised objective
Executing on revised objective Since we last published on Bluefield Solar Income Fund (BSIF), the company has raised £105.1m in an oversubscribed share issue, and completed on the purchases of its first wind and battery storage investments. The company’s financial results, covering the year ended 30 June 2021, showed that BSIF hit its 8p per […]
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12 min read
Bluefield Solar Income Fund – Executing on revised objective
Executing on revised objective Since we last published on Bluefield Solar Income Fund (BSIF), the company has raised £105.1m in an oversubscribed share issue, and completed on the purchases of its first wind and battery storage investments. The company’s financial results, covering the 12-month period ended 30 June 2021, were encouraging. BSIF hit its 8p […]
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11 min read
Bluefield Solar Income Fund – Executing on revised objective
Executing on revised objective Since we last published on Bluefield Solar Income Fund (BSIF), the company has raised £105.1m in an oversubscribed share issue, and completed on the purchases of its first wind and battery storage investments. The company’s financial results, covering the year ended 30 June 2021, were encouraging. BSIF hit its 8p per […]
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01 Jul 2021 8 min read
Bluefield Solar Income Fund – Transformational deal
Transformational deal Bluefield Solar Income Fund (BSIF)’s ambition to expand beyond its narrow focus on solar power generation looks close to fruition, with the announcement of a deal to buy a portfolio of 109 wind turbines, located across the UK. This is the first in a series of transactions aimed at diversifying BSIF’s asset base. […]
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8 min read
Bluefield Solar Income Fund – Transformational deal
Transformational deal Bluefield Solar Income Fund (BSIF)’s ambition to expand beyond its narrow focus on solar looks to be close to fruition, with the announcement of a deal to buy a portfolio of 109 wind turbines, located across the UK. This is the first in a series of transactions aimed at diversifying BSIF’s asset base. […]
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8 min read
Bluefield Solar Income Fund – Transformational deal
Transformational deal Bluefield Solar Income Fund (BSIF)’s ambition to expand beyond its narrow focus on solar is close to fruition, with the announcement of a deal to buy a portfolio of 109 wind turbines, located across the UK. This is the first in a series of transactions aimed at diversifying BSIF’s asset base. The target […]
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20 Apr 2021 23 min read
Bluefield Solar Income Fund – On the offensive
On the offensive Bluefield Solar Income Fund (BSIF) is growing actively, supported by a wider mandate after shareholders voted overwhelmingly in July 2020 in favour of proposals to expand the fund’s remit beyond solar. BSIF will apply what many believe has been a very successful model since its launch in 2013 to the complementary technologies […]
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23 min read
Bluefield Solar Income Fund – On the offensive
On the offensive Bluefield Solar Income Fund (BSIF) is growing actively, supported by a wider mandate after shareholders voted overwhelmingly in July 2020 in favour of proposals to expand the fund’s remit beyond solar. BSIF will apply what has been a very successful model since its launch in 2013 to the complementary technologies of wind […]
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24 min read
Bluefield Solar Income Fund – On the offensive
On the offensive Bluefield Solar Income Fund (BSIF) is growing actively, supported by a wider mandate. Shareholders voted overwhelmingly in July 2020 in favour of proposals to expand the fund’s remit beyond solar. BSIF will apply what has been a very successful model since its launch in 2013 to the complementary technologies of wind and […]
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24 Nov 2020 2 min read
QuotedData’s ESG Conference – week 1 Environmental day playback
On the 24th November QuotedData hosted the first of three ESG focused webinars. This Environmental webinar began with an overview from the AIC on the growth of ESG in the sector and was followed by presentations and Q&As from 3 investment companies’ managers focused on providing renewables solutions such as wind farms, solar power and energy […]
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07 Apr 2020 5 min read
QuotedData’s Economic Roundup – April 2020
Economic & Political Roundup Kindly sponsored by Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you to buy or sell […]
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10 Mar 2020 7 min read
QuotedData’s Investment Companies Roundup – March 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford and Aberdeen Standard Investments Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over February: An initiation note on Montanaro UK Smaller Companies Trust (MTU) […]
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6 min read
QuotedData’s Economic Roundup – March 2020
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Feb 2020 7 min read
QuotedData’s Investment Companies Roundup – February 2020
Investment Companies Roundup Kindly sponsored by Baillie Gifford Table of contents New research In this issue Performance data Discounts and premiums Money in and out Major news stories Income Events Guide New research Here is a list of research we published over January: An annual overview note on Shires Income (SHRS) “Shires Income (SHRS) will […]
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24 Jan 2020 20 min read
QuotedData’s Investment Companies Annual Review – 2019
In this issue The sector at the end of 2019 Performance data Performance by sector and fund Money in and out of the sector Money in and out of existing funds Money coming into existing funds Money going out of existing funds Liquidations, de-listings and trading cancellations Significant rating changes Major news stories Outlook for […]
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07 Oct 2019 6 min read
QuotedData’s economic roundup – October 2019
Economic & Political Roundup Kindly sponsored by Polar Capital and Allianz A collation of recent insights on markets and economies taken from the comments made by chairmen and investment managers of investment companies – have a read and make your own minds up. Please remember that nothing in this note is designed to encourage you […]
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07 Aug 2019 3 min read
QuotedData’s investment companies roundup – August 2019
Investment Companies Roundup New research Over July, we published notes on CQS New City High Yield, BlackRock Throgmorton, Strategic Equity Capital, Seneca Global Income & Growth, CG Asset Management, Standard Life Investments Property Income and Aberdeen New Dawn. You can read all these notes by clicking on the links above or by visiting www.quoteddata.com. In this issue Performance data – appetite […]
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15 Apr 2019 6 min read
Quarterly Investment Companies Roundup – First Quarter 2019
Quarterly Investment Companies Roundup – First Quarter 2019 QuotedData news Through the first quarter of 2019, global equities largely clawed back the losses suffered over the final weeks of 2018. How much longer this ten-year bull market can sustain itself is the subject of much debate. US interest rate rises have stalled, reflecting growing cautiousness. Elsewhere, […]
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07 Feb 2019 1 min read
Bluefield Solar Income Fund – Walking on sunshine
Bluefield Solar Income Fund – Walking on sunshine Faced with rising prices for secondary solar power projects, Bluefield Solar Income Fund (BSIF) has taken a strategic decision not to focus on growing its portfolio during the last couple of years. Instead, a focus on increasing operational efficiency, coupled with a 32.5% increase in the power price, has […]
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1 min read
Bluefield Solar Income Fund – Walking on sunshine
Bluefield Solar Income Fund – Walking on sunshine Faced with rising prices for secondary solar PV assets, Bluefield Solar Income Fund (BSIF) has taken a strategic decision not to emphasise portfolio expansion during the last couple of years. A focus on increasing operational efficiency, coupled with a 32.5% increase in the power price, has helped deliver […]
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12 Oct 2018 1 min read
QuotedData’s investment companies roundup – October 2018
QuotedData’s investment companies roundup – October 2018 is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of August 2018. Kindly sponsored by Baillie Gifford. Money raised and returned in September Trian Investors 1 is a new fund that will adopt […]
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18 Jul 2018 2 min read
Quarterly Investment Companies Roundup – Second Quarter 2018
QUARTERLY INVESTMENT COMPANIES ROUNDUP – SECOND QUARTER 2018 Global equities markets rose in the second quarter of 2018, Markets were volatile, as positive economic data and encouraging company performances played off against geopolitical concerns. Yields from bond markets rose early in the quarter but fell back as investors turned to ‘safer’ investments. The threat of […]
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11 May 2018 1 min read
QuotedData’s investment companies roundup – May 2018
QuotedData investment companies roundup – May 2018 – is our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of April 2018. Kindly sponsored by Baillie Gifford. India Capital Growth has experience a rebound in performance in the past month, as […]
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18 Jan 2018 1 min read
QuotedData – 2017 review of the year
QuotedData – 2017 review of the year – Many commentators, including us, were wary going into 2017. In the event, economic growth and markets surprised on the upside: US markets hit new highs despite three interest rate rises. Perceived low/no growth areas such as Europe and Japan burst into life. Asia’s technology stocks surged. India’s […]
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08 Nov 2016 1 min read
QuotedData investment companies roundup – November 2016
Our latest roundup of news; price, NAV and discount movements; flows in and out of the sector and report on full year dividends announced over the month of October 2016. november-investment-companies-roundup-2
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27 Apr 2015 1 min read
The importance of income – where to find it?
Life used to be simpler. If you had a bit of spare cash or you wanted to save up for something you’d just stick some money in a bank or building society account. If you had a nest egg and wanted to invest it in something safe and live off the income, you’d maybe buy […]
News
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29 Nov 2024 7 min read
Income 101 – The essentials for your income search
If you look across the investment companies’ space, it is clear there is still strong demand for trusts that can provide investors with an attractive level of income which is reliable and, ideally, has some degree of both inflation protection and capital preservation. Despite the environment of higher interest rates that has prevailed over the […]
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08 Nov 2024 3 min read
Renewables – don’t let the sun go down on me
There are plenty of factors which have contributed to the mediocre performance of UK equities over the last few years, both unavoidable and self-inflicted. However, the rationale behind the ongoing sell-off across the renewable energy infrastructure sector, as well as its scale, is one which we struggle to understand. Prior to the pandemic, most if […]
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01 Nov 2024 3 min read
Jury is out on Reeves’s bumper tax-grab budget
QD view: The budget has been dominating headlines this week. We set the scene and covered the big changes in the budget earlier in the week. The question is, what effect will this have on the UK economy and the trusts that are exposed to it? National Insurance hit to big employers This week’s interview […]
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30 Sep 2024 4 min read
Bluefield Solar grows income despite falling power prices
Bluefield Solar Income Fund (BSIF) has published its annual results for the year ended 30 June 2024, during which it provided NAV and share price total returns of -0.83% and -4.67% respectively. The fall in the NAV reflected lower long term electricity prices and lower inflation expectations. Underlying earnings per share, pre-debt amortisation, were 15.51p […]
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05 Sep 2024 1 min read
Bluefield Solar completes £70m disposal
Bluefield Solar reports the completion of Phase Two of its long-term strategic partnership with GLIL – the sale of a 50% stake in a 112MW portfolio of UK solar assets which had been 100% owned by Bluefield Solar. GLIL is a partnership of UK pension funds, investing into core UK infrastructure, including Local Pensions Partnership […]
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22 Jul 2024 2 min read
Bluefield Solar Income Fund executes phase 2 of its strategic partnership
Bluefield Solar Income Fund (BSIF) has signed phase 2 of its strategic partnership with GLIL Infrastructure (GLIL), which is the agreement to sell a 50% stake in a 112MW portfolio of 1.4 and 1.3 ROC UK solar assets currently owned by Bluefield Solar. Proceeds from the sale will be used to repay a portion of […]
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14 May 2024 1 min read
QuotedData’s morning briefing 14 May 2024 – AEI, BSIF, AEET, AEWU
In QuotedData’s morning briefing 14 May 2024: abrdn Equity Income Trust (AEI) announced its interim results for the six months to 31 March 2024. During the period, the company delivered a NAV total return of 1.6% compared to the total return of the FTSE All-Share Index of 6.9%. The share price total return was -8.2%. […]
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01 Mar 2024 1 min read
QuotedData’s weekly news show 1st March 2024
Thank you to everyone that listened in today, whether you watched the Zoom live or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • HICL Infrastructure (1:10) • Renewables – Bluefield Solar Income (4:48), TRIG (9:46), Greencoat UK Wind (10:31) • Property – SEGRO (11:11), Hammerson (12:14) Andrew McHattie reflected […]
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28 Feb 2024 4 min read
Strong half-year for Bluefield Solar Income
Although spot power prices have softened recently and despite irradiation levels some 13% below those experienced in the second half of the prior year, Bluefield Solar Income Fund’s (BSIF’s) interim results for the six months to 31 December 2023 are strong with BSIF benefiting from its adviser’s strategy of fixing prices up to 36 months […]
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16 Feb 2024 3 min read
QD view – Inflation Scare
With inflation rates much reduced, investors became convinced in October that interest rates had peaked. Share prices in the renewables and infrastructure sectors began to rise while yields began to fall and there was a sense that as we entered 2024 we had passed the worst of the sell-off in those sectors. However, as the […]
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15 Feb 2024 1 min read
Bluefield Solar plans £20m buyback
Bluefield Solar’s NAV slipped slightly over the final quarter of 2023, from 136.4p to 136.0p. Higher opeartional costs offset the benefit of recognising the company’s Renewable Energy Guarantees of Origin certificates (REGOs) and slightly higher long term forecast power prices. The board has reiterated its target dividend for the full year of not less than […]
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25 Jan 2024 2 min read
Bluefield Solar progresses deal with GLIL Infrastructure
Bluefield Solar has progressed the deal with GLIL Infrastructure that was announced late last year. It has invested £20m in the joint venture partnership that is acquiring the Lightsource bp portfolio of solar assets. The 58 operating site Lightsource bp portfolio is comprised of: 184MW backed by Feed in Tariff (FiT) subsidies, 15MW by Renewable […]
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22 Dec 2023 3 min read
QD – review of the year
This is the last of our weekly emails for 2023. We hope that you have been finding them useful. We will be publishing our annual roundup in January. Ahead of that however, I thought it might be worth pulling out a few of the year’s highs and lows. In January, China’s market shone as hopes […]
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3 min read
Bluefield Solar Income Fund announces strategic partnership with GLIL Infrastructure
Bluefield Solar Income Fund (BSIF) has announced that it has signed a memorandum of understanding between it and GLIL Infrastructure (GLIL) to form a long-term strategic partnership which commits it and GLIL to investing together into UK focused solar assets, from development through to operational plants. GLIL is a partnership of UK pension funds, investing […]
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01 Dec 2023 1 min read
QuotedData’s morning briefing 1 December 2023 – BSIF, USF, BPCR
In QuotedData’s morning briefing 1 December 2023: Bluefield Solar (BSIF) has announced a number of changes to the roles and responsibilities of some of its directors. First, Chris Waldron has now been appointed as a non-executive director of BSIF with effect from 1 December 2023. He has also been appointed to each of BSIF’s established […]
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16 Nov 2023 2 min read
QuotedData’s morning briefing 16 November 2023 – BSIF, SYNC, PSH, GCL, NCYF, GPM, CYN, NRR, GPE
In QuotedData’s morning briefing 16 November 2023: Bluefield Solar (BSIF) reports that its NAV fell by 3.3p over the third quarter of 2023. The main contributing factors to this were slight underperformance in generation during the quarter, due to lower than expected irradiation, and advanced quarterly payments connected to corporation tax and the Electricity Generator […]
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28 Sep 2023 3 min read
Bluefield Solar boosts dividend after bumper year for earnings
Bluefield Solar Income Fund has published results for the year ended 30 June 2023. As previously announced, the NAV eased slightly to 139.7p from 140.4p, as higher discount rates (used to discount BSIF’s forecast cash flows to calculate the NAV) and higer interest rates marginally outweighed the positive impact of higher power prices and inflation. […]
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18 Aug 2023 1 min read
QuotedData’s weekly news update 18th August 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Thomas Lloyd Energy Impact (0:57) • Riverstone Energy (18:40) • Bluefield Solar (22:25) • NextEnergy Solar (27:16) • Ediston Property (30:16) • Empiric Student […]
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17 Aug 2023 1 min read
Bluefield Solar posts positive NAV move
Bluefield Solar has announced its end June NAV and it has risen from 139.1p to 139.7p. There are a lot of moving parts that drove this: Bluefield Solar has increased its discount rate by 0.75% to 8.0% and this took 4.9p per share off the NAV. Even though power prices have fallen, the fund was […]
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11 Aug 2023 4 min read
QD view – Renewables – an inevitable part of our future?
For some time, the trajectory of renewable energy infrastructure trusts appeared inexorable: the march to decarbonisation was inevitable, government backing a given and the regulatory environment supportive. However, in spite of some significant financial backing for renewable energy development, global governments appear to be wavering on their commitment to net zero, and the public backlash […]
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22 Jun 2023 2 min read
QuotedData’s morning briefing 22 June 2023
In QuotedData’s morning briefing 22 June 2023: Augmentum Fintech (AUGM) has made a further £5.4m investment into Volt, the real-time payments infrastructure company, as part of Volt’s $60m Series B funding round. The new round implies a value for Augmentum’s existing stake of £17.8m (up £11.4m on the unaudited carrying value as at 30 September […]
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12 May 2023 1 min read
QuotedData’s weekly news show 12th May 2023
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Reed and Richard Williams covered the week’s top stories: Update on Renewables Octopus Renewables Infrastructure (1:30) Bluefield Solar (6:13) NextEnergy Solar (7:18) HydrogenOne (9:36) US Solar no longer up for sale […]
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11 May 2023 1 min read
Bluefield Solar NAV off highs on power price fall
Bluefield Solar’s NAV as at 31 March 2023 was £850.2m or 139.1p per share, 3.3p down on the end December NAV of 142.4p. The NAV total return for the quarter was -2.3%. The main reason for this was the recent falls in power prices (linked to falling natural gas prices). The NAV includes the published […]
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02 May 2023 2 min read
QuotedData’s morning briefing 02 May 2023
Princess Private Equity Holding (PEY) provided a monthly update with NAV growing 0.3%. It also confirmed the first interim dividend payment of EUR 0.365 per share for FY 2023, which is in line with previous guidance to distribute 5% of opening net asset value for each financial year, via semi-annual payments. The first interim dividend […]
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28 Feb 2023 2 min read
QuotedData’s morning briefing 28 February 2023
In QuotedData’s morning briefing 28 February 2023: Princess Private Equity (PEY) is abandonng (from April 2023) its currency hedging strategy, which had a considerable negative impact on the fund last year. Dividends based on 5% of NAV will resume in June with a 36 cent payment. The chair Richard Battey, who has been on the […]
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24 Jan 2023 1 min read
QuotedData’s morning briefing 24 January 2023
In QuotedData’s morning briefing 24 January 2023: JPMorgan Global Income & Growth (JGGI) says its C share portfolio now has 77% commonality with its ordinary share portfolio. The C share portfolio contains holdings from JPMorgan Elect Managed Growth that the managers thought it might take some time to sell. The board decides when the time […]
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23 Dec 2022 1 min read
Bluefield Solar Income acquires two ground mounted solar assets in Scunthorpe and Cumbria
Bluefield Solar Income Fund (BSIF) has acquired a 46.4 MWp solar portfolio that comprises two large ground mounted solar assets located in Cumbria, in the UK. Both are 1.4 ROC assets that have been operational since 2015 and approximately 60% of their projected revenues are contracted and regulated. The larger of the two assets is […]
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2 min read
QuotedData’s morning briefing 23 December 2022
In QuotedData’s morning briefing 23 December 2022: Schroder European Real Estate (SERE) has completed the early refinancing of its largest debt expiry in 2023, a €14m loan with VR Bank Westerwald, secured against its Hamburg and Stuttgart office investments. SERE says that competitive financing terms were obtained from five different lenders with VR Bank Westerwald […]
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01 Dec 2022 2 min read
QuotedData’s morning briefing 1 December 2022
In QuotedData’s morning briefing 1 December 2022: Bluefield Solar (BSIF) says that John Rennocks has stepped down as the chair of the Company and will remain an independent, non-executive director until his retirement from the board in Q1 2023. John Scott has been appointed as the new chair and Michael Gibbons CBE becomes its new […]
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25 Nov 2022 1 min read
QuotedData’s weekly news show 25th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Renewables/infrastructure NAVs • Digital 9 Infrastructure • NB Global Monthly Income • Home REIT This week’s interview was with Bruce Stout from Murray International […]
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22 Nov 2022 2 min read
NAV progression at Bluefield Solar despite windfall tax
Bluefield Solar Income Funds says that its NAV as at 30 September 2022 was £884.0m or 144.6p per share, up from 140.4p as at 30 June 2022. This equates to an NAV total return for the quarter of 3.0% and gearing (based on the gross asset value) of 34%. The major factors behind this change […]
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18 Nov 2022 1 min read
QuotedData’s weekly news show 18th November 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Long Term Assets • Renewables windfall tax This week’s interview was with Jeff O’Dwyer from Schroder European REIT – watch it again here. previous […]
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17 Nov 2022 1 min read
45% windfall tax on renewable electricity from 1 January 2023
45% windfall tax on renewable electricity from 1 January 2023 A new electricity generator levy will come into force from 1 January 2023 and run until 31 March 2028. The levy will be a new 45% tax on extraordinary revenues above a pre-crisis price baseline of £75 per MWh made by certain renewable, nuclear and […]
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30 Sep 2022 1 min read
QuotedData’s weekly news show 30th September 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Andrew McHattie covered the week’s top stories: Bluefield Solar The rise in discount rates Mixed progress with IPOs for Welkin China Private Equity, Independent Living REIT and Sustainable Farmland […]
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4 min read
Bluefield Solar posts strongest results since IPO
Bluefield Solar Income Fund (BSIF) has published its annual results for the year ended 30 June 2022. It has been a very successful year for BSIF, which has recorded its highest earnings and dividend since its launch, along with 320m of solar and battery investments; an oversubscribed fundraise of £225m, 1.1GW of capacity being developed […]
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29 Sep 2022 2 min read
QuotedData’s morning briefing 29 September 2022
In QuotedData’s morning briefing 29 September 2022: Rockwood Strategic (RKW) confirms that its shares are now admitted to listing on the premium segment of the Official List maintained by the FCA and to trading on the premium segment of the London Stock Exchange’s Main Market. The trust is moving across from AIM. [Now the focus […]
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09 Sep 2022 1 min read
QuotedData’s weekly news show 9th September 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Welkin China Private Equity • UK renewables This week’s interview was with Joe Bauernfreund from AVI Global Trust – watch it again here.
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22 Aug 2022 3 min read
QuotedData’s morning briefing 22 August 2022
In QuotedData’s morning briefing 22 August 2022: AEW UK REIT (AEWU) has sold 225 Bath Street, Glasgow for £9,300,000. Planning consent has been gained by new owners IQ for the demolition of the property and development of a 527-unit student accommodation scheme. The sale agreement required AEWU to negotiate with tenants to bring the asset […]
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19 Aug 2022 1 min read
QuotedData’s weekly news show 19th August 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Axiom European • BluefieldSolar This week’s interview was with Fiona Yang from INVESCO Asia Trust – watch it again here.
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15 Aug 2022 1 min read
Bluefield solar confirms subsidies secured for new projects
Bluefield Solar says that it has successfully secured additional solar contracts in the UK on 62.4MW of planned additional capacity through the UK government’s fourth Contracts for Difference (CfD) Allocation Round (‘AR4′) announced last month. AR4 was the first subsidy allocation round since AR1 in 2015 in which solar has been able to participate, with […]
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07 Jul 2022 1 min read
Renewables auction round 4 results
The results of the fourth round of the UK’s subsidy auction have been announced. They include 7GW of new offshore wind coming at a price of £37.35/MWh, 2.2GW of solar, almost 900MW of onshore wind and new tidal stream and floating offshore wind projects. A full list of approved projects is available here. We note […]
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01 Jun 2022 1 min read
Bluefield Solar Income raises £150m following strong demand
Bluefield Solar Income raises £150m following strong demand – Bluefield Solar Income (BSIF) has raised £150m through the issue of 115,384,615 New Ordinary Shares following strong demand from both new and existing investors. The New Ordinary Shares represent approximately 23% of the issued Ordinary Share capital of the company prior to the issue. Proceeds will be […]
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27 May 2022 1 min read
QuotedData’s weekly news show 27th May 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew covered the week’s top stories: • Windfall taxes: NextEnergy Solar, Greencoat UK Wind, Bluefield Solar • Fundraising: Gresham House Energy Storage, Home REIT This week’s interview was with Paul Bridge […]
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25 May 2022 1 min read
Bluefield Solar Income pushes issue timetable back in response to windfall tax rumours
Bluefield Solar Income pushes issue timetable back in response to windfall tax rumours – The board of Bluefield Solar Income (BSIF) has responded to recent articles regarding unspecific rumours of a possible windfall tax on electricity generators including renewable generators. Given the timing of this press speculation relative to the originally planned closing date and […]
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23 May 2022 1 min read
Bluefield Solar Income buys battery storage projects in Derbyshire and Worcestershire
Bluefield Solar Income buys battery storage projects in Derbyshire and Worcestershire – Bluefield Solar Income (BSIF) has acquired two standalone 40 MW battery storage projects from Green Hedge Energy UK Limited for approximately £4.5m. The acquisition represents the development rights, grid connection costs and the leasehold of land for the two projects, which are based […]
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13 May 2022 1 min read
QuotedData’s weekly news show 13th May 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Richard Williams covered the week’s top stories: JLEN Ecofin US Renewables Infrastructure Trust Bluefield Solar Shaftesbury Capital and Counties LXI Reit Secure Income REIT This week’s interview was with […]
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11 May 2022 2 min read
Bluefield Solar Income buys UK-based solar and wind portfolio and announces proposed issue
Bluefield Solar Income buys UK-based solar and wind portfolio and announces proposed issue – Bluefield Solar Income (BSIF) has made a significant acquisition of a 93.2MWp UK-based solar and wind portfolio, expanded its revolving credit facility (RCF) and launched a placing and offer for subscription. BSIF will raise new equity through the placing of new […]
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25 Feb 2022 1 min read
QuotedData’s weekly news show 25th February 2022
Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, Matthew Read covered the week’s top stories: • Digital 9 Infrastructure – SPA terminated • Crystal Amber and Allied Minds • Bluefield Solar – strong inflation linkage • Jupiter Emerging & Frontier […]
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22 Feb 2022 1 min read
QuotedData’s morning briefing 22 February 2022
In QuotedData’s morning briefing 22 February 2022: Bluefield Solar Income (BSIF) has posted its interim results for the six months to 31 December 2021. During the period under review, its total shareholder return was 5.7%, while its NAV total return was 9.6%. Underlying earnings, pre amortisation of long-term finance, were £21.4m and underlying earnings for […]
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31 Jan 2022 2 min read
QuotedData’s morning briefing 31 January 2022
In QuotedData’s morning briefing 31 January 2022: Bluefield Solar Income (BSIF) has acquired the development rights for a 20 MW battery storage project for approximately £1.5m from Shaw-Energi Ltd. The project is based in Liverpool and construction is expected to begin during 2022. Meanwhile BSIF has also announced its first interim dividend of 2.03 pence […]
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21 Jan 2022 1 min read
QuotedData’s weekly news show 21st January 2022
QuotedData’s weekly news show 21st January 2022 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on YouTube. In this week’s show, James Carthew and Matthew Read covered the week’s top stories: • Bluefield Solar – sunny outlook • Ruffer – doom and gloom This week’s interview […]
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20 Jan 2022 1 min read
Bluefield buys Good Energy portfolio
Bluefield buys Good Energy portfolio – Bluefield Solar has bought a 47.5 megawatt peak (MWp) operational solar and wind portfolio from Good Energy Group Plc (GOOD LN). The portfolio was bought for an initial equity consideration of £16.4m, which could rise to a total of £24.5m if a series of due diligence milestones are met […]
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11 Oct 2021 2 min read
QuotedData’s morning briefing 11 October 2021
In QuotedData’s morning briefing 11 October 2021: VH Global Sustainable Energy Opportunities (GSEO) has completed its acquisition of the first 5MW solar photovoltaic site near Adelaide, South Australia. This is part of the first tranche consisting of two sites totalling 17MW as announced on 2 August 2021. Battery storage will be built and co-located on […]
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05 Oct 2021 4 min read
Bluefield Solar pushing ahead with subsidy-free development
Bluefield Solar pushing ahead with subsidy-free development as it announces fairly solid results in what was a turbulent year. Bluefield Solar has published its annual results covering the 12-month period ended 30 June 2021. At the year end the NAV was 115.83p down from 117.01p a year earlier. The share price fell from 134.5p to […]
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01 Oct 2021 4 min read
QD View – Energy crisis, opportunity in uncertainty
The drivers that have led to the current energy crisis have been clearly visible for some time and reflect a number of long-term structural challenges that we face. Chief amongst these is climate change and the need to decarbonise but related to this are issues of energy security; the intermittency of renewables; battery technology that […]
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16 Aug 2021 2 min read
QuotedData’s morning briefing 16 August 2021
In QuotedData’s morning briefing 16 August 2021: NB Global Monthly Income (NBMI) has invested in a new 2nd lien senior secured loan from Parexel, which came to the market in July. The company helps pharmaceuticals manage and execute clinical trials. Following a 3-year turnaround plan under a new management team, NBMI believes it is well positioned to […]
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21 Jul 2021 1 min read
QuotedData’s morning briefing 21 July 2021
In QuotedData’s morning briefing 21 July 2021: Bluefield Solar (BSIF) received applications for 89,067,980 new shares under its issue and the board has decided to increase the offer size so that it can accept the lot. The shares are being issued at 118p – the gross issue size will be £105.1m. Custodian REIT (CREI) has sold […]
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02 Jul 2021 1 min read
QuotedData’s weekly news show 2 July 2021
QuotedData’s weekly news show 2 July 2021 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on Youtube. In this week’s show, James Carthew and Jayna Rana covered the week’s top stories: Bluefield Solar Income Fund plan to buy 109 wind turbines Genesis Emerging Markets – Fidelity […]
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28 Jun 2021 2 min read
Bluefield Solar buys wind portfolio
Bluefield Solar buys wind portfolio – Bluefield Solar has entered into a conditional sale and purchase agreement to acquire a portfolio of 109 small scale onshore wind turbines located across the UK for an aggregate consideration of approximately £60m (including working capital) from Arena Capital Partners Limited. The deal is conditional upon Bluefield securing the necessary […]
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06 May 2021 1 min read
QuotedData’s morning briefing 6 May 2021
In QuotedData’s morning briefing 6 May 2021: Schroder UK Public Private says that Oxford Nanopore Technologies has raised £195m in new capital including £125m from some new investors – Temasek, Wellington Management, M&G Investments and Nikon. In addition, existing shareholders invested £70m. The valuation in the NAV as at 31 December 2020 was based on the […]
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02 Mar 2021 1 min read
Sunny days for Bluefield
Sunny days for Bluefield – Bluefield Solar’s interim results for the six months ended 31 December continue on a positive note. Highlights are: Shareholders approved an expansion of the company’s remit to include investment outside of solar infrastructure assets, notably wind and energy storage. Shareholders also approved an update to the dividend policy. Bluefield completed […]
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11 Jan 2021 1 min read
Bluefield Solar takes installed capacity to 612 MWp with 70 MWp UK solar plant buy
Bluefield Solar (BSIF) has bought Bradenstoke Solar Park Limited, a 213-acre operational 70-megawatt peak (MWp) ground-mounted solar photovoltaic plant The investment is at a cost of £89m, with BSIF receiving cash flows from the plant from 1 April 2020. ‘Accredited under the Renewable Obligation Certificate regime with a tariff of 1.4 ROCs’ Bradenstoke Solar Park is located on a […]
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20 Nov 2020 3 min read
QD view – Looking after the environment
Over the next few weeks, QuotedData is hosting a series of webinars focused on ESG – environmental, social and governance – aspects of investing that are increasingly important to investors. The first of these, on 24 November, will look at the ‘E’ in ESG. The main thrust of the debate around tackling the environmental issues […]
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16 Nov 2020 1 min read
Bluefield Solar Income placing looks to raise £45m
Bluefield Solar Income (BSIF) has announced a proposed placing at a price of 124p, with the intention of raising a target of approximately £45m to repay a drawn revolving credit facility (RCF). The placing price represents a premium of approximately 8.3% to BSIF’s last published unaudited NAV as at 30 September 2020 (after deducting the FY20/21 fourth […]
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25 Sep 2020 1 min read
QuotedData’s weekly news show 25 September 2020
In QuotedData’s weekly news show 25 September 2020 Thank you to everyone that listened in today, whether you watched the Zoom live, on Facebook or on youtube. In this week’s show, James Carthew covered the week’s top stories: Temple Bar appointing RWC Asset Management Bluefield Solar’s results Hipgnosis launching £250m fundraise but ‘only’ raising £190m KKV Secured Loan is […]
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22 Sep 2020 1 min read
Bluefield Solar seems to be riding out the storm
Bluefield Solar seems to be riding out the storm – Bluefield Solar Income Fund has published results for the year ended 30 June 2020. Over the year, while long-term power price forecasts have been slashed across the renewable energy sector, the NAV fell slightly from 117.98p to 117.01p. Underlying earnings per share rose from 8.62p to […]
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24 Aug 2020 2 min read
Bluefield Solar buys portfolio of 15 ground-mounted solar PV plants for an initial £106.6m
Bluefield Solar (BSIF) has acquired a UK-based portfolio of 15 operational solar photovoltaic (‘PV’) plants with a total installed capacity of 64.2 megawatt peak (MWp). In addition, BSIF has also agreed a new £110m, three-year term loan facility with NatWest. ‘Portfolio consists of 15 ground-mounted operational solar PV plants’ The acquisition was completed on 20 August 2020, […]
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08 Jul 2020 1 min read
QuotedData’s morning briefing 8 July 2020
Bluefield Solar Income (BSIF)’s investment advisor, has announced the hiring of Baiju Devani as UK investment director. Baiju joins as part of BSIF’s evolution (click here to read more), bringing with him significant wind expertise.He is joining from from Ingenious, where he was a fund manager within its infrastructure division from August 2013 to December 2019. […]
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07 Jul 2020 1 min read
QuotedData’s morning briefing 7 July 2020
In QuotedData’s morning briefing 7 July 2020: Gore Street Energy Storage raised £23.7m by issuing 24,627,365 new ordinary shares at 96.1p. 3m of those went to JXTG Nippon Oil & Energy Corporation Gresham House Energy Storage is issuing £15m of bonds (which it is calling GRID Power Bonds) with a coupon of 5%. This is the first issue […]
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19 Jun 2020 7 min read
Bluefield Solar prepares for the future
Bluefield Solar Income Fund has published a circular to shareholders in which it has set out proposals that are designed to prepare for the future. The company wants to amend its Investment Objective and Investment Policy, make changes to the Investment Advisory Agreement and disapply pre-emption rights. Shareholders will have the opportunity to vote on […]
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25 Mar 2020 2 min read
Update from Bluefield Solar
Bluefield Solar (BSIF) published the following update: “BSIF reconfirms its guidance of a full year dividend of 7.90pps for the financial year ending June 2020. This will be fully covered by earnings and post debt amortisation. Based on yesterday’s closing share price the dividend yield on the forecast full year dividend was 7.05%.” COVID-19 Contingency […]
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25 Feb 2020 3 min read
Bluefield Solar lower power price impact cushioned by fixed prices locked in 2018
The UK-focused renewables energy infrastructure fund, Bluefield Solar (BSIF), has reported interim results to 31 December 2019. The company has reported a total NAV return of 6.2% and a total market return of 7.0%. The following extracts are taken from chairman John Rennocks’s report: Introduction “Although lower than the exceptional levels seen in the second […]
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29 Jan 2020 1 min read
Renewable energy funds under attack from brokers
Renewable energy funds under attack from brokers – Shares in many renewable energy funds slumped yesterday as first Chris Brown of JPMorgan and then Matthew Hose of Jefferies said they were overvalued. Their analysis (which we can’t show you and you can’t get hold of unless you work for a large investment firm and pay […]
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24 Jan 2020 1 min read
Bluefield Solar completes its first acquisitions of 2020
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 […]
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19 Sep 2019 1 min read
Special dividend boosts Bluefield Solar
Special dividend boosts Bluefield Solar – after delivering a good set of results for the year ended 30 June 2019, Bluefield Solar has decided to pay an extra 0.63p per share to investors, on top of the target 7.68p. The target for the current financial year is 7.9p (reflecting UK inflation of 2.88%). Over the […]
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26 Jul 2019 4 min read
QuotedData visits Bluefield Solar’s Elms farm
QuotedData visits Bluefield Solar’s Elms farm – Earlier this week, QuotedData attended an analyst and investor site visit arranged by Bluefield Solar Income Fund (BSIF). BSIF is a client of our sponsored research service – we published an initiation note earlier this year, which you can access here. We figured it would be interesting to share […]
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26 Feb 2019 2 min read
Bluefield Solar Income announces “an excellent start to its 2018/19 financial year”
Bluefield Solar Income Fund (BSIF) has announced its results for the six months ended 31 December 2018. Analysts from QuotedData attended the company’s results presentation and the company key operational highlights are listed below. However, underlying earnings for the period were £18m, which is 38.5% ahead, year-on-year (underlying earnings for the six-months ended 31 December […]
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10 Dec 2018 2 min read
SDCL Energy Efficiency Income Trust IPO Raises £100m
SDCL Energy Efficiency Income Trust Plc (SEEIT) has announced that its IPO has raised gross proceeds of £100m (through the issue of 100m shares at £1 per share). The company says that it expects that its shares, which are to be listed on the London Stock Exchange’s main market, will start trading on Tuesday 11 […]
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27 Sep 2018 2 min read
Bluefield Solar reports on a positive year of operational performance
Bluefield Solar reports on a positive year of operational performance – Bluefield Solar Income Fund (BSIF) has published its annual report and financial statements for the year to 30 June 2018. Performance The company delivered an NAV total return for the year to June 2018 of 9.25%. The share price total return was 11.68%. In the five years since IPO, total returns […]
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19 Apr 2018 1 min read
Bluefield Solar acquires three ground-mounted solar PV plants
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 […]
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19 Mar 2018 1 min read
Investment Trust Insider on battery storage
Investment Trust Insider on battery storage James Carthew: the economics of storing energy in batteries Two weeks ago when I wrote about Bluefield Solar Income Fund (BSIF) I referred to a couple of new solar power plants that planned to operate without government subsidies by augmenting their revenue with the aid of battery storage plants. […]
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06 Mar 2018 1 min read
Investment Trust Insider on Bluefield Solar
Investment Trust Insider on Bluefield Solar – James Carthew: the high-yield solar fund basking in UK’s rays With the ‘Beast from the East’ receding it is time to think about spring and sunshine, specifically Bluefield Solar Income Fund (BSIF), the only one of the renewable energy investment companies I own. It has been a great […]
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18 Jan 2018 4 min read
Independent publishes results for phenomenal year
Independent publishes results for phenomenal year – Over the year to 30 November 2017, Independent Investment Trust produced a net asset value (NAV) total return of 54.8%. However one measures performance this was, by some margin, the best annual result in the history of the Independent: theoretical investments in the All-Share Index and the World Index would […]
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18 Sep 2017 2 min read
Bluefield Solar reports 11% jump in NAV
Bluefield Solar reports 11% jump in NAV – Bluefield Solar Income Fund has published its Annual Report and Financial Statements for the year from 1 July 2016 to 30 June 2017. Operational Highlights The Company delivered total underlying earnings of GBP25.1 million (2016: 20.9 million) in the year and underlying EPS of 7.32 pence (2016: […]
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23 Feb 2017 1 min read
Bluefield Solar NAV up to 105p
Bluefield Solar says that, at the end of December 2016, its NAV had increased to 105.07 pps (30 June 2016: 99.39 pps). The WACC used to calculate the NAV was unchanged from December 2015 and June 2016 at 6.6%. They delivered underlying earnings of GBP11.7 million in the period. This enabled a fully covered first […]
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07 Dec 2016 1 min read
Bluefield Solar Income Fund to acquire five new plants for £22.7m
Bluefield Solar Income Fund has announced announce that it has entered into binding agreements to acquire five new build sub-5 megawatt peak ground-mounted solar photovoltaic plants. The projects are being acquired for a total consideration of £22.7m, including transaction costs and working capital. The company says that each plant is expected to become operational before […]
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20 Oct 2016 1 min read
Bluefield Solar Income Fund’s placing raises £60.6m
Bluefield Solar Income Fund has announced the results of its recent placing. The company says that commitments for 60,000,000 new ordinary shares were received and will be issued at a price of 101p per share, raising gross proceeds of approximately £60.6m. The New Ordinary Shares, which represent approximately 19% of the issued ordinary share capital […]
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04 Oct 2016 2 min read
Bluefield Solar rebounds from year end lows
For the year ended 30 June 2016 Bluefield Solar Income Fund reports that its NAV fell to 99.39p from 103.58p. It paid dividends totalling 7.25p, ahead of expectations. The share price at the end of June was 99.75p, a small premium to NAV, but since the end of the year, the shares have rebounded and currently […]
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14 Jul 2016 3 min read
Housebuilding drags down Independent after a good six months
The six month period ending 31 May 2016 Independent Investment Trust produced a net asset value total return of 5.7%. The total returns notionally attributable to the FTSE All Share Index and the FTSE World Index were 0.1% and 3.9% respectively. The net asset value per share rose from 390.1p to 400.3p over the period, […]
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08 Jun 2016 3 min read
Bluefield Solar wants to use long term debt
Bluefield Solar is seeking approval from shareholders for an amendment to the company’s investment policy which would, if approved, enable it to incur long term structural debt at the holding company level. The existing investment policy envisages that Bluefield Solar will only use short term debt at the holding company level. Shareholders should note that the proposed […]
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19 Apr 2016 1 min read
Bluefield Solar buys a plant in Derby
The Board of the Bluefield Solar Income Fund Limited has entered into a binding sale and purchase agreement to acquire a 4.1 megawatt peak (“MWp”) ground-mounted solar photovoltaic (“PV”) plant and announces the successful connection prior to 31 March 2016 of the construction assets previously acquired. Bluefiled Solar Income has acquired Bluefield Harrier Limited for £14.4m (including working […]
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25 Feb 2016 1 min read
Bluefield Solar says still on track for 7p+RPI returns
Bluefield Solar Income Fund delivered an above-target dividend of 7.25 pence per share for the year ending 30 June 2015, and has paid a dividend in the period of 3.25 pence per share for the current financial year. They say, notwithstanding the reduction in power prices during the period, attractively priced acquisitions and strong contractual […]
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26 Jan 2016 2 min read
Bluefield Solar makes six acquisitions with new credit facility
Bluefield Solar has secured an amended credit facility agreement and has made six acquisitions (three of which were announced in December). The six additional solar photovoltaic plants have an energy capacity totalling 104.5 MWp. The total consideration is £149m, including transaction costs, debt costs and working capital and they are using their new credit facility to fund this. The new credit […]
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23 Dec 2015 1 min read
Bluefield Solar Income acquires three new solar plants
Bluefield Solar Income fund has announced that it has made three sub-5 MegaWatts peak (MWp) solar plants. The three assets include a 4.7 MWp plant in Lincolnshire and two 4.99 MWp plants in Norfolk. The three are being acquired for a total consideration of £16.5m including transaction costs and working capital. Each plant is expected […]
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18 Dec 2015 3 min read
Bluefield Solar comments on DECC response to subsidy consultation
Bluefield Partners LLP, the Investment Adviser to the Bluefield Solar Income Fund Limited has made a statement following today’s publication of the Department of Energy and Climate Change (“DECC”)’s response to consultations launched this summer regarding changes to financial support for solar PV, outlining changes to the regulatory support for solar assets, including changes to the Renewable […]
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02 Dec 2015 1 min read
Bluefield Solar Income raises £31.62m of new capital
Bluefield Solar Income Fund has announced that, following its placing and offer for subscription, it has received commitments for 30,098,639 new ordinary shares under the placing and 901,361 new ordinary shares under the offer for subscription. As such, 31.0m new ordinary shares are to be issued at a price of 102p per share, raising gross […]
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01 Oct 2015 1 min read
Bluefield Solar dividend exceeds expectations
Bluefield Solar’s results, covering the year to the end of June 2015, are out. Over the year the fund generated a return on net assets of 6.7% and a return to shareholders of 13.0%. The total dividend for the year was 7.25p – ahead of their target of 7p. The report says the portfolio has performed […]
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24 Aug 2015 2 min read
Bluefield Solar makes three small acquisitions
Bluefield Solar Fund is buying three solar assets: Bluefield EIS Solar Limited (“Solar EIS”), Bluefield Kite Limited (“Kite”) and Bluefield Peregrine Limited (“Peregrine”), which between them own and operate 28 solar photovoltaic (“PV”) plants (the “Plants”). The Plants, each built and commissioned prior to the end of Q1 2012, have over three years of operational […]
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28 Jul 2015 1 min read
Bluefield adds another 9.8MWp
Bluefield Solar has acquired two UK-based sub-5MWp (Megawatt Peak) solar photovoltaic (“PV”) assets. The two assets are a 4.79 MWp plant in Cornwall and a 4.98MWp plant in Norfolk. They are being acquired for a total consideration of £11.22m, including transaction costs and working capital. Each project is eligible to qualify under either the Renewable […]
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23 Jul 2015 1 min read
Changes to solar subsidies
The Department for Energy and Climate Change (“DECC”) has announced a series of measures aimed at restricting the subsidies it pays to support renewable energy. The measures include: Removing the guaranteed level of subsidy for biomass conversions and co-firing projects for the duration of the Renewable Obligation, known as grandfathering. Launching a consultation on controlling subsidies for […]
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09 Jul 2015 1 min read
Budget changes to Climate Change Levy hit Renewables
Changes in yesterday’s budget in relation to the Climate Change Levy (removal of Climate Change Levy exemption) for renewable electricity have had a knock-on effect on the net asset values of companies operating in the renewable energy sector as it changes the assumptions used to calculate them. Greencoat UK Wind says it was already factoring […]
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27 Feb 2015 1 min read
Bluefield Solar confident on dividend despite power price falls
Bluefield Solar Income Fund has announced its interim results for the six months ended 31 December 2014. Over the period the fund expanded by £131m through a placing of new shares but the fund’s net asset value per share fell from 102.96p to 101.34p. They paid an interim dividend of 3.25p during the period and say […]
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16 Feb 2015 1 min read
Bluefield Solar buys three plants for £54m
Bluefield Solar has announced the acquisition of three UK-based, large scale solar plants. The three assets include a 6.5MWp plant in Somerset, a 12.5MWp plant in Wiltshire, and a 29MWp plant in Oxfordshire. They are being acquired for a total consideration of £54m, including transaction costs and working capital. Each is expected to qualify under […]
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21 Nov 2014 1 min read
Bluefield Solar expanding plant in Norfolk
BSIF : Bluefield Solar expanding plant in Norfolk Bluefield Solar is paying for an extension of its existing project at Hardingham in Norfolk. The existing plant has a 14.8MW peak capacity, this extension will expand that by 5.2MW. The new asset will attract a 1.4 ROC subsidy they think. The cost of the project is […]
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08 Sep 2014 1 min read
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 […]
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28 Jul 2014 1 min read
Bluefield Solar : BSIF – new acquisitions
Bluefield Solar is making two additions to its portfolio of solar parks, buying a 8.5MW plant in Devon (on a greenfield site, pictured, Capelands Farm close to Exmoor National Park) and a 6MW plant in Somerset. The cost for both projects is £15m and they are being built by Juwi AG, a German renewable energy contractor […]
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18 Jun 2014 1 min read
Bluefield Solar Income Fund : BSIF – new acquisition
Bluefield Solar Income Fund has announced that it has made its tenth major acquisition, dipping into its RBS credit facility for the first time. It is buying a new plant in Hertfordshire, being constructed by Solarcentury, that will, when complete, generate up to 17.5MW. The acquisition price is £19m. The plant will qualify for government subsidy at the rate of 1.4 […]
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03 Apr 2014 1 min read
Bluefield Solar : BSIF – update
Bluefield Solar has announced that most of its solar plants are now operational – only Cefn Betingau in Glamorgan and Sheppey in Kent are yet to be connected and Bluefield Solar believes this will happen this month. The upshot of this is that Bluefield Solar’s directors feel confident that it will meet its objective of […]
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28 Feb 2014 1 min read
Bluefield Solar Income : BSIF – interim report
Bluefield Solar Income’s first set of figures, covering the period from 29 May to 31 December 2013, has been released. Its net asset value at the end of December 2013 was 97.3p. It declared its first dividend of 2p per share on 19 February 2014 and the statement says it is on track to pay the […]
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19 Feb 2014 1 min read
Bluefield Solar : BSIF – acquisition and fund raising
Bluefield Solar is buying its ninth solar plant, a 19MW facility north of Swindon. The plant will cost £21m and will be connected to the grid in March. It is eligible for government subsidy (qualifying for 1.6 renewable obligation certificates). BSIF cash £14m of cash so to fund the balance of the deal it needs […]
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30 Dec 2013 1 min read
Bluefield Solar : BSIF – acquisitions
BSIF is acquiring three additional solar plants in Hampshire, Norfolk and Glamorgan and plans to extend a plant in Oxfordshire – total cost £38.5m. Following this BSIF will have invested over 75% of the money it raised and will have investments in plants capable of generating 81MW.
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29 Jul 2024 1 min read
Investment trust insider on rebuilding Britain
Investment trust insider on rebuilding Britain – James Carthew: Trusts must invest capital, not buy back shares forever New regulation could narrow share price discounts, allowing trusts to reallocate capital into areas that need it, such as infrastructure and private British companies. Post the election, a sense of optimism is emerging in the UK. For […]
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28 May 2024 1 min read
Investment trust insider on biodiversity
Investment trust insider on biodiversity – James Carthew: Governments are finally taking biodiversity seriously Government action to address falling wildlife numbers is creating opportunities for some businesses, with tradeable biodiversity credits one incentive. Last week, 22 May was the International Day for Biodiversity. There are ‘days’ for just about anything that you can think of […]
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15 Apr 2024 1 min read
Investment trust insider on benefiting from yield while waiting for a re-rating
Investment trust insider on benefiting from yield while waiting for a re-rating – James Carthew: I’ve bought two more renewables, now looking at UK equity income Disappointing inflation figures look likely to delay the start of interest rate cuts in the US. This is an unhelpful development for the many investment company sectors that have […]
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18 Mar 2024 1 min read
The income-generating trust sector trading at ‘ridiculous discounts’
Tom Aylott, PORTFOLIO ADVISER, 14 MARCH 2024: Trusts investing in renewables and infrastructure were high in demand a few years ago when the runway for growth was seemingly endless, but it has been quite a different story over the past couple of years. Five years ago, infrastructure trusts were trading on an average premium to […]
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11 Mar 2024 1 min read
Investment trust insider on renewables
Investment trust insider on renewables – James Carthew: ‘Buy’ great opportunities in run-down renewables Last month’s rise in US inflation knocked UK renewables funds, which I was happy to exploit. Don’t be surprised if we see bids in the sector. February was an odd month for markets and the main culprit was stronger-than-expected US inflation […]
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1 min read
Money Makers podcast: 11 March 2024
In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to James Carthew, director of QuotedData. You can listen to this week’s two podcasts in full here. Alternatively, you can subscribe and download it on most podcast channels including Soundcloud, Apple, Spotify, Stitcher and others.
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26 Feb 2024 2 min read
Perfect Storm
Cherry Reynard, Portfolio Adviser Magazine, February 2024: Investment trusts have a well-deserved reputation as an effective way to manage such illiquid assets as property, smaller companies and infrastructure, yet the past 18 months have also highlighted the problems of this type of vehicle, as discounts have widened in response to higher interest rates, cost-disclosure problems […]
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11 Jan 2024 1 min read
Investment trust bargains: how to find them and where to look in 2024
by Kyle Caldwell from interactive investor, 11th January 2024: There are various ways to improve the odds of investment success, including having a diversified portfolio, investing over the long term, and rebalancing a couple of times a year. Another one is to keep a close eye on valuations and seek out undervalued areas of the […]
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08 Jan 2024 1 min read
Investment trust insider on the deal flurry at the end of 2023
Investment trust insider on the deal flurry at the end of 2023 – James Carthew: Deals flurry shows trust recovery has just begun Merger talks and proposals to liberate capital for share buybacks and investments are clear signs investment companies are pulling away from last year’s bear market. The so-called ‘Santa rally’ over November and […]
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02 Oct 2023 1 min read
Investment trust insider on discount disconnects
Investment trust insider on discount disconnects – James Carthew: The SONG and dance about alternative NAVs One argument used by investors who justify the wide discounts on investment companies in ‘alternative’, non-equity assets is that the underlying net asset values (NAV) of their portfolios are overstated. Sometimes this is easy to counter, but in other […]
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04 Sep 2023 1 min read
Investment trust insider on renewables
James Carthew: High yield, low rating look unfair on Bluefield Solar The prices of renewable energy funds fell by an average of 3.1% last month, taking their one-year decline to nearly 17%. Most of these funds are trading at discounts of more than 20% to net asset value (NAV) and have dividend yields well above […]
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22 Aug 2023 1 min read
Money Makers podcast: 21 Aug 2023
In this week’s edition of the Weekly Investment Trust Podcast, Jonathan Davis, editor of the Investment Trusts Handbook, talks to James Carthew, director of QuotedData.
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07 Aug 2023 1 min read
Infrastructure and renewables – big yields, big discounts
Matthew Read, for Investment Week, 4 August 2023: The outlook for the UK equity market feels particularly depressed and it is not hard to see why. Even after June’s better-than-expected inflation figures, core UK inflation remains high, which suggests higher interest rates for longer. Commentators are expecting that the base rate, which at 5.25% is […]
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12 Jun 2023 1 min read
Bargain Hunter: sizing up ‘cheap’ investment trusts on 5%-plus yields
by Kyle Caldwell from interactive investor, 8 June 2023: For investment trust fans now is one of the best opportunities over the past decade to try and pick up a bargain, as the chart below from stockbroker Numis shows. The average equity investment trust is trading on a discount a smidge over 10%, while those […]
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17 Mar 2023 1 min read
Look beyond the dividend heroes
Andrew Courtney, for Investment Week, 15 March 2023: The dividend hero and next generation hero lists published by the AIC are a great marketing tool for the investment companies industry and tend to generate a considerable amount of press attention, despite being a relatively simplistic yardstick (funds that have grown their dividend every year for […]
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15 Mar 2023 1 min read
Investment trust insider on Greencoat UK Wind
Investment trust insider on Greencoat UK Wind – James Carthew: Renewables de-rating won’t last. Funds like UK Wind are too important The end of the month sees a big milestone for the investment companies sector – Greencoat UK Wind (UKW), the first of the renewable energy infrastructure trusts, will be 10 years old. The initial […]
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05 Dec 2022 1 min read
Clearer picture, calmer nerves for renewables?
James Carthew of QuotedData for Investment Week, 5 December 2022: Shifting sentiment has led to a widening of discounts to net asset value across many parts of the investment companies’ industry. One of the more unexpected deratings has occurred within the renewable energy infrastructure sector, despite two thirds of these funds generating double-digit NAV returns […]
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30 Nov 2022 2 min read
Renewable energy infrastructure trusts hold out against extra profits levy
By Val Cipriani, Investors’ Chronicle, November 30 2022: Renewable energy infrastructure trusts are taking a relatively small hit from the electricity generator levy, as its effect on their net asset value (NAV) is offset by high power prices and inflation in the latest round of portfolio updates – but share prices are still recovering quite […]
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22 Nov 2022 1 min read
Investment trust insider on the electricity generator levy
Investment trust insider on the electricity generator levy – James Carthew: Government’s incompetence to renewables windfall tax a crying shame The incredible rise in power prices over the past year was undoubtedly good news for UK-focused renewable energy generators. Not all of the spike in the market price for power was captured by these companies […]
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20 Oct 2022 1 min read
When will renewable energy investment trust prices recover?
By Val Cipriani, Investors’ Chronicle, October 19, 2022: While equities and bonds have taken a battering, infrastructure has become an increasingly popular asset class in the past year, with a reputation for helping investors’ fortunes while traditional strategies were busy plummeting. Renewable energy in particular looked attractive in an environment where energy can be sold […]
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12 Jul 2022 1 min read
Why these defensive investments will continue to deliver
Sam Benstead from interactive investor, 12th July 2022: Amid a sea of red this year, one sector is flashing green: infrastructure and renewables. Investors have had very few places to hide this year, as higher interest rates and inflation spark an exodus from the stock market. Year-to-date, US shares have fallen around 20% (S&P 500 […]
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1 min read
The best renewable energy infrastructure trusts
By Cherry Reynard, Investors’ Chronicle, July 6, 2022: Amid febrile stock markets, renewable energy infrastructure trusts should be a rare sweet spot. They offer inflation protection at a time of double-digit price rises, high dividends when income is scarce and access to renewables as policymakers strive to decarbonise. They are also exposed to rising power […]
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15 Jun 2022 1 min read
Wind farms, schools and broadband: Are infrastructure investment trusts the key to inflation-busting returns?
By MIKE SHEEN FOR THIS IS MONEY 14 June 2022 Infrastructure assets have long been regarded as a go-to means of achieving inflation-beating returns and, while prices soar elsewhere, the London market may currently offer investors bargain options… Renewable energy infrastructure trusts have raised more than £1billion since the start of the year, according to […]
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07 Jun 2022 1 min read
Investment trust insider on windfall taxes
Investment trust insider on windfall taxes – James Carthew: Windfall tax confusion shows UK is a risk for renewables investors It was good to see Bluefield Solar Income (BSIF) announce it had managed to raise £150m in an oversubscribed share issue before the Jubilee holiday. This follows a similar-sized fundraise by Gresham House Energy Storage […]
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16 May 2022 1 min read
Are NAV increases on renewable infrastructure trusts here to stay?
Kathleen Gallagher, Investment Week, 11 May 2022: At the beginning of this week (9 May) the JLEN Environmental Assets trust flagged that its Q1 NAV is likely to be 13-15% higher than the end of last year. The trust, and a number of its peers, are sitting on double digit premiums as they benefit from, […]
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07 Feb 2022 1 min read
Investment trust insider on renewables, power prices and inflation
Investment trust insider on renewables, power prices and inflation – James Carthew: Inflation and high gas prices are good news for renewable income funds Last June, I wrote an article that sought to delve a bit into the many different assumptions that go into calculating net asset values (NAVs) for renewable energy funds, excluding the […]
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15 Nov 2021 2 min read
The alternative trusts allowing investors to capture new trends
Investment trusts enjoy record year for fundraising as they back a new wave of innovation November 11, 2021, Investors Chronicle, By Mary McDougall Investment trust fundraising amounted to £11.4bn in the first 10 months of the year, a record for the ancient fund structure which is now financing a new wave of innovation. Most striking is the […]
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1 min read
Renewable energy fuels new wave of investment trusts
Mary McDougall NOVEMBER 11 2021 Investment trusts focused on infrastructure, particularly those involved in renewable energy projects, have boomed this year as income-hungry investors and those wishing to back the energy transition have flocked to participate in record numbers of share issues. There is little sign of this momentum losing pace. One energy efficiency trust, […]
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04 Oct 2021 1 min read
How to cash in on the international supply crisis
Demand for oil, copper and other commodities is growing — could this help investors to beat the pressures of inflation David Brenchley, Saturday October 02 2021, 12.01am, The Times The prices of lithium, aluminium and copper are soaring, wholesale gas prices have jumped sixfold and the oil price has hit a three-year high. All of […]
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23 Feb 2021 1 min read
Investment trust insider on renewables
Investment trust insider on renewables – James Carthew: How the renewables class of 2013 has changed beyond recognition Following the recent new issues and the oversubscribed £198m placing by Greencoat UK Wind (UKW) last week, the now 17 investment companies in the sector have a combined market value of about £10.5bn and are within a […]
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12 Feb 2021 1 min read
When it is worth paying a premium for an investment trust
When it is worth paying a premium for an investment trust by Jennifer Hill from interactive investor | 10th February 2021 10:06 Positive news on Covid-19 vaccines led to investment trusts re-rating considerably during 2020. The average discount among equity investment trusts narrowed from 4.6% to 2.5% – the tightest level on record – according to Numis Securities. Discounts widened […]
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31 Mar 2020 1 min read
Renewable energy infrastructure companies hit by falling power prices
Renewable energy infrastructure companies hit by falling power prices By David Brenchley , Investment Week, 9 March 2020 A fall in power prices that has significantly reduced net asset value (NAV) of renewable energy infrastructure investment companies over the past six months is likely to remain a headwind for a sector that has been popular […]
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25 Mar 2020 1 min read
Risky Renewables: the bulls vs the bears
Risky Renewables: the bulls vs the bears by Jennifer Hill, Issue 53, Investment Trust Insider ezine Until recently, shares in renewable infrastructure investment trusts were trading at all-time highs, reflecting investor enthusiasm and flows into the asset class. However, a string of negative broker notes has cast doubt on the sustainability of returns and caused their premiums over net asset value (NAV) to drop. […]
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06 Mar 2018 1 min read
Investment Trust Insider on Bluefield Solar
Investment Trust Insider on Bluefield Solar – James Carthew: the high-yield solar fund basking in UK’s rays With the ‘Beast from the East’ receding it is time to think about spring and sunshine, specifically Bluefield Solar Income Fund (BSIF), the only one of the renewable energy investment companies I own. It has been a great […]
