Bluefield Solar buys shovel-ready 20-MW UK battery scheme

Solar system. Author: Mike Weber. License: Creative Commons, Attribution 2.0 Generic

January 31 (Renewables Now) - Bluefield Solar Income Fund Ltd (LON:BSIF) on Monday said it has acquired a ready-to-build 20-MW battery storage project in Liverpool that is expected to move into construction during 2022.

The UK income fund purchased the scheme from Shaw-Energi Ltd for about GBP 1.5 million (USD 2m/EUR 1.8m). The acquisition includes development rights for the project, grid connection costs and the leasehold of the land.

This is Bluefield Solar’s second battery storage acquisition and the first storage project not co-located with solar.

The fund currently has a portfolio of UK solar assets with a combined installed capacity of over 673 MWp.

“Energy storage has enormous growth potential in the UK and offers an exceptionally attractive additional revenue stream, diversifying the Company's income from our majority solar portfolio with its predictable regulated revenue profile," said Bluefield Solar chairman John Rennocks.

The company also announced its first interim dividend for the financial year ending on June 30, 2022, of GBP 0.0203 per ordinary share, and confirmed its guidance of a full-year dividend of GBP 0.0812, expected to be covered by earnings.

(GBP 1 = USD 1.339/EUR 1.202)

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Browse all articles from Plamena Tisheva

Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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