Bluefield Solar Income Fund : BSIF

Overview

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.

BSIF’s aims to pay shareholders an attractive return, principally in the form of regular income distributions, by investing in a portfolio of large-scale, UK-based solar-energy infrastructure assets. BSIF is targeting long-life assets that are expected to generate stable renewable energy output over at least a 25-year life. Individual assets, or portfolios of assets, are held in special purpose vehicles (SPVs). BSIF can invest in these using both equity and debt.

Dividends are paid quarterly and, should the total dividend fall short of its RPI-linked target, the manager’s fee is subject to a clawback (a performance fee is also earned if the dividend beats the target).

We have written some notes that explain what the fund does and how it works. You can read these here –

• Walking on sunshine, published in February 2019, a focus on operational efficiency and a rise in the price of power has helped uplift underlying earnings
• On the offensive, published on 20 April 2021, talks about the fund’s plans to expand
• Transformational deal, published on 1 July 2021, discusses the fund’s proposed investment in a portfolio of wind turbines
• Executing on revised objective, published on 15 December 2021, covered the progress on diversifying the portfolio
• Politicians cloud otherwise bright future, published 12 January 2023, looks at the impact of windfall taxes, higher interest rates, volatile power prices and rampant inflation on the company
• Record year supports growth strategy, published 2 October 2023, discusses BSIF’s recent results and its prospects for growth
• Fundamentals shine despite discount, published 24 April 2024, explores the gulf between Bluefield’s performance and its share price

You can access the company’s website here

Fundamentals

Price