Bluefield Solar Income Fund acquires 3 sub-5-MW UK solar farms

Bluefield Solar Income Fund Ltd (LON:BSIF) has acquired three sub-5-MWp solar power plants in England for GBP 16.5 million (USD 24.5m/EUR 22.4m), including transaction costs and working capital, it said today.

The UK solar fund has purchased a 4.7-MWp facility in Lincolnshire and two 4.99-MWp plants in Norfolk. The three solar farms are expected to become operational before March 31, 2016 and to qualify for 1.3 Renewables Obligation Certificates (ROCs) per MWh. They will be built by Solarcentury, which will also operate and maintain them under separate agreements.

The plants are part of a 258-MWp pipeline that the fund has said it has secured exclusivity over. "These acquisitions are the first part of the prospective pipeline the Company is pursuing which, despite the recent regulatory changes, demonstrates the continuing potential of the UK solar market," said chairman John Rennocks.

Including these three plants, the fund has now made 62 acquisitions.

The company also said it planned to meet or exceed its target dividend of GBP 0.0707 per ordinary share for the year through June 2016. For the previous financial year it paid total dividends of GBP 0.0725.

(GBP 1.0 = USD 1.485/EUR 1.358)

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