Bluefield Solar Income Fund Limited IPO proceeds close to fully committed (1465Y)
21 January 2014 - 9:02PM
UK Regulatory
TIDMBSIF
RNS Number : 1465Y
Bluefield Solar Income Fund Limited
21 January 2014
21 January 2014
BLUEFIELD SOLAR INCOME FUND LIMITED
IPO proceeds close to fully committed after eighth
acquisition
Bluefield Solar Income Fund Limited (the "Company") is pleased
to announce that it has entered into binding contracts to acquire
its eighth large-scale solar plant.
In total, the Company has invested into UK based solar plants
with a combined capacity of 92 MegaWatts Peak ("MWp"). The Company
has now committed c.85% of the IPO proceeds in the six months since
the Company was listed on the London Stock Exchange. The Company
raised GBP130 million in July 2013.
Solarcentury will build the Kent based plant and will then
warrant its performance for an initial period. It will undertake
the ongoing operation and maintenance of the plant under a separate
agreement.
The Company can confirm that, based on the existing committed
projects and the terms agreed on this portfolio, it remains on
course to deliver against its target dividend of 4 pence per
ordinary share in relation to the first financial year ending 30
June 2014, and 7 pence per ordinary share in respect of the
Company's second financial year, with the intention of this rising
annually with RPI thereafter.
Bluefield Partners LLP ("Bluefield"), the Company's Investment
Adviser, will seek to outperform that return by active management
strategies across the invested portfolio. The Company is insulated
from development risk by the contractors taking full responsibility
for the construction and delivery of the plants.
The Company expects to make further announcements shortly.
Enquiries:
James Armstrong / Mike Rand / Giovanni Terranova
Bluefield Partners LLP - Company Investment Adviser
Tel: +44 (0)20 7078 0020
Tod Davis / David Benda
Numis Securities Limited - Company Broker
Tel: +44 (0)20 7260 1000
Kevin Smith
Heritage International Fund Managers Limited - Company Secretary
& Administrator
Tel: +44 (0)1481716000
Note to editors
About Bluefield Solar Income Fund Limited (the "Company" or
"BSIF")
BSIF is a Guernsey-registered investment company focusing on
large scale agricultural and industrial solar assets. The Company
raised gross proceeds of GBP130 million in July 2013 through an
initial public offering ("IPO") of shares on the main market of the
London Stock Exchange.
The Company seeks to provide shareholders with an attractive
return, principally in the form of semi-annual income
distributions, by investing in a diversified portfolio of solar
energy assets, each located within the UK, with a focus on utility
scale assets and portfolios on greenfield, industrial and/or
commercial sites.
About Bluefield Partners LLP ("Bluefield")
Bluefield was established in 2009 as a specialist investor into
solar energy. Bluefield's team has a proven track record in the
selection, acquisition and management of large scale energy and
infrastructure assets in the UK and Europe.
The managing partners have been involved in over GBP350m of
solar photovoltaic ("PV") funds and/or transactions in both the UK
and Europe since 2008, including over GBP170m in the UK since
December 2011. Bluefield has led the acquisitions, and currently
advises, on over 50 UK based solar assets.
Bluefield was appointed Investment Adviser to the Company in
June 2013.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ACQKMGZMLMLGDZG
Bluefield Solar Income (LSE:BSIF)
Historical Stock Chart
From Jun 2024 to Jul 2024
Bluefield Solar Income (LSE:BSIF)
Historical Stock Chart
From Jul 2023 to Jul 2024