By:
Reporter, Solar Power Portal
Over the last six months, Bluefield Solar Income Fund has made two major acquisitions. The first, in August, was a 64.2MWp solar portfolio whilst the second, which was announced earlier this month, was the 70MWp Bradenstoke solar farm.
It comes off of the back of an oversubscribed share placing that saw it raise £45 million, placing a total of 36,500,000 new ordinary shares at a price of 124p each.
Solar Power Portal caught up with James Armstrong, managing partner of Bluefield Partners, to discuss how the acquisition of the 70MWp farm reflects Bluefield s solar strategy, whether subsidy-free developments are still on the table and how the solar sector may see significant growth in 2022/23.
About Bluefield Solar Bluefield Solar is a UK income fund focused, primarily, on acquiring and managing UK-based solar projects to generate renewable energy for periods of typically 25 years or longer. 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 onshore wind, hydro and storage technologies. Its primary objective is to deliver to its shareholders stable, long term sterling income via quarterly dividends. The majority of the Group s revenue streams are regulated and non-correlated to the UK energy market. 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 612 MWp.
Image: Canadian Solar.
Solar giant Canadian Solar and Windel Capital are teaming up for a 1.4GWp pipeline of solar in a bid to boost their UK presence.
Having signed a project development agreement for the pipeline, the two companies are expecting the first of these projects to reach ready-to-build status in the second half of 2021. It will be up to Windel to deliver the early-stage projects to ready-to-build status, with Canadian Solar providing funding, support and the procurement of power purchase agreements.
The possibility for several of these projects to be co-located with battery storage is also being explored by Windel, with Gary Toomey, managing partner of Windel Capital, stating the firm is “looking forward” to co-developing “clean and affordable solar energy”.
Bluefield Solar is a UK income fund focused, primarily, on acquiring and managing UK-based solar projects to generate renewable energy for periods of typically 25 years or longer. 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 onshore wind, hydro and storage technologies. Its primary objective is to deliver to its shareholders stable, long term sterling income via quarterly dividends. The majority of the Group s revenue streams are regulated and non-correlated to the UK energy market. 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 543 Megawatt peak.