Bluefield solar Income Fund acquires eight solar plant
Bluefield Solar Income Fund Limited announced two days ago 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 85% of the IPO proceeds in the six months since the company was listed on the London Stock Exchange. The company raised £130 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.
Bluefield Solar Income Fund confirmed 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, the company's investment adviser, said it 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.
Country news
-
-
January 24, 2014
JLIF to make aggressive changes in investment policy
John Laing Infrastructure Fund (JLIF) is seeking shareholder approval to amend the company's investment policy to provide greater optionality and flexibility in investment decisions. Read more -
January 27, 2014
Northleaf Capital Partners acquires 50 % of WHEB Infrastructure's solar portfolio
WHEB Infrastructure last week announced that it has reached a definitive agreement with infrastructure investor Northleaf Capital Partners to jointly pursue the continued expansion of a rooftop solar portfolio in the United Kingdom. Under the agreement, Northleaf has acquired a 50% stake in WHEB's operating rooftop solar portfolio, as well as a pipeline of additional installations that will be operational in early 2014. Read more -
January 28, 2014
HICL makes two PFI acquisitions in the UK
HICL Infrastructure has announced the acquisition of a 26% interest in Holdfast Training Services Limited, a PPP joint venture with Babcock International Group PLC that supports the Royal School of Military Engineering, from a subsidiary of Carillion plc and the acquisition of a 40% interest in the Sheffield BSF Schools project from Vinci Investments Limited. Read more -
January 28, 2014
Foresight adds six to its Infrastructure investment team
Foresight Group, the independent infrastructure and private equity investment manager, has expanded its Infrastructure team by six, taking its international team to 20 investment professionals, further strengthening its position as one of the largest dedicated teams in the solar sector. Read more -
January 29, 2014
Former Crossrail chief appointed Thames Tideway Tunnel CEO
Andrew Mitchell, Programme Director and Board Member at Crossrail, has been appointed as the Chief Executive Officer of the Thames Tideway Tunnel delivery organisation, it was announced last week. Read more
