Bluefield Solar grows portfolio with wind, solar, storage acquisitions in UK

Solar farm. Author: Juwi Renewable Energies Limited.

August 16 (Renewables Now) - Bluefield Solar Income Fund Ltd (LON:BSIF) said today it has acquired a 13-MW portfolio of onshore wind turbines and a 45-MWp shovel-ready solar project with 25 MWp of co-located battery storage in the UK.

Under the first deal, the UK income fund has purchased 109 small-scale wind turbines totalling 12.59 MW for GBP 63 million (USD 74.1m/EUR 87.3m), including working capital and transaction fees. The assets purchased from Arena Capital Partners Ltd will start adding to earnings immediately.

The acquired turbines are located across England, Northern Ireland, Scotland and Wales. Seventeen of the machines offer a repowering opportunity at an investment of an additional GBP 35 million, which would increase the portfolio’s generation by about 40%. Planning, regulatory and construction consents are already in place for the repowering of five turbines.

Bluefield Solar has also acquired the grid connection and associated land of a fully-consented solar project with co-located battery from Equans, a recently launched brand of French energy group Engie SA (EPA:ENGI). The project will be built in Lincolnshire, with construction set to begin in 2022.

Following the transactions, Bluefield Solar has around GBP 340 million in outstanding debt.

“The board and our investment adviser continue to carefully assess a strong pipeline of attractive opportunities across both primary and secondary markets,” said John Rennocks, chairman of Bluefield Solar.

(GBP 1.0 = USD 1.175/EUR 1.386)

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