Bluefield Solar Income Fund Limited Promotion to the FTSE 250 (4301A)
23 September 2022 - 4:01PM
UK Regulatory
TIDMBSIF
RNS Number : 4301A
Bluefield Solar Income Fund Limited
23 September 2022
23 September 2022
Bluefield Solar Income Fund Limited
('Bluefield Solar' or the 'Company')
Promotion to the FTSE 250
9.91% (1) Annualised Shareholder Returns since July 2013 IPO
Bluefield Solar is pleased to announce that it has been included
in the London Stock Exchange's FTSE 250 index following the latest
quarterly reshuffle. The promotion to the FTSE 250 came into effect
at market close on Friday, 16 September 2022.
Bluefield Solar is a London listed income fund focused on
acquiring and managing renewable energy and storage projects in the
UK to provide long term, growing dividends for its shareholders,
whilst furthering the decarbonisation of the energy system. It owns
and operates one of the UK's largest, diversified portfolios of
solar and wind assets with a combined installed power capacity in
excess of 766 MWp.
John Rennocks, Chairman of Bluefield Solar, said: "We are proud
to announce Bluefield Solar's promotion to the FTSE 250, which
marks a further significant milestone in the growth of the Company.
The increasing asset base of the portfolio has enabled shareholders
to access one of the largest portfolios of UK renewable assets
available to the public investor. In recent years this
diversification has continued, not only in adding additional
attractive solar assets to the portfolio, but also providing
selective exposure to wind and storage assets in the UK. Since
listing in July 2013, the Company has delivered shareholder total
returns of 138.5% (1) and annualised returns of 9.91% (1) ".
James Armstrong, Managing Partner of Bluefield Partners LLP, the
Investment Adviser to Bluefield Solar, said: "When we floated the
Company in 2013 we were the first solar focused fund to be listed
on the Main Market in London. Nine years on, energy markets are
being transformed both by the turbulence being seen in fossil fuel
markets and by the remarkable progress seen in renewable energy;
Bluefield's portfolio alone is now producing close to 3% of the
UK's electricity during its peak production in the summer. This has
been achieved by the talented and dedicated teams at the Bluefield
Group who have built one of the highest performing portfolios in
the sector. Solar and wind are now the lowest cost sources of
electricity, which can be rapidly deployed and add to the UK's
energy security. The next decade should, therefore, see a further
transformation in the energy markets with renewables and Bluefield
Solar delivering cost effective and secure power for the UK."
(1) data from Bloomberg L.P. accessed 22 September 2022
- Ends -
For further information:
Bluefield Partners LLP (Company Investment Tel: +44 (0) 20 7078
Adviser) 0020
James Armstrong / Neil Wood / Giovanni www.bluefieldllp.com
Terranova
Numis Securities Limited (Company Tel: +44 (0) 20 7260
Broker) 1000
Tod Davis / David Benda / Vicki Paine www.numis.com
Ocorian Tel: +44 (0) 1481
(Company Secretary & Administrator) 742 742
Patrick Ogier www.ocorian.com
Media enquiries: Tel: +44 (0) 20 7466
Buchanan (PR Adviser) 5000
Henry Harrison-Topham / Henry Wilson www.buchanan.uk.com
BSIF@buchanan.uk.com
Notes to editors:
About Bluefield Solar
Bluefield Solar is a sterling income fund focused on acquiring
and managing renewable energy and storage projects in the UK, to
provide long term, growing dividends for its shareholders whilst
furthering the decarbonisation of the energy system. Not less than
75% of the Company's gross assets will be invested into UK solar
assets. The Company can also invest up to 25% of its gross assets
into other technologies, such as wind and storage. The majority of
the Company's revenue streams are regulated and non-correlated to
short term UK energy market fluctuations. Bluefield Solar owns and
operates one of the UK's largest, diversified portfolios of solar
assets with a combined installed power capacity in excess of 766
MWp.
Bluefield Solar is listed on the Main Market of the London Stock
Exchange and is a member of the FTSE 250, classified within the
Closed End Investments subsector.
Further information can be viewed at www.bluefieldsif.com
About Bluefield Partners
Bluefield Partners LLP was established in 2009 and is an
investment adviser to companies and funds investing in renewable
energy infrastructure. It has a proven record in the selection,
acquisition and supervision of large-scale energy assets in the UK
and Europe. The team has been involved in over GBP4 billion
renewable funds and/or transactions in both the UK and Europe,
including over GBP1 billion in the UK since December 2011.
Bluefield Partners LLP has led the acquisitions of, and
currently advises on, over 100 UK based solar PV assets that are
agriculturally, commercially or industrially situated. Based in its
London office, it is supported by a dedicated and experienced team
of investment, legal and portfolio executives. Bluefield Partners
LLP was appointed Investment Adviser to Bluefield Solar in June
2013.
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