Bluefield solar fund raised 130 million in IPO
The £130 million Bluefield Solar Income Fund started trading on Jul12 on the London Stock Exchange following an initial public offering (IPO) which raised comfortably more than the £75 million minimum target.
The new fund launched by Bluefield Partners LLP will invest in a portfolio of large scale UK-based solar energy infrastructure assets. The fund is the first of its kind in the UK.The fund aims to deliver an initial rate of return of 7-9% net of fees.The Fund expects to invest the net proceeds within 12 months in UK-based assets that are expected to generate stable renewable energy over a 25 year asset life.
Managing partner for Bluefield Partners LLP, James Armstrong commented:
Source: London Stock Echange & Bluefield Partners LLP"We view this first successful IPO of a solar fund in the UK as a pivotal moment in the growth of large scale UK solar. The Fund has been backed by a broad range of large institutional investors, which is a clear reflection that solar energy assets are rightly being recognised as a great way to earn long term, stable income'.
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