Bluefield Solar Income Fund boosts NAV p/s over FY 2014/15

Bluefield Solar Income Fund Ltd (LON:BSIF) said Thursday its net asset value (NAV) per share increased to GBP 1.0358 (USD 1.569/EUR 1.407) at the end of June from GBP 1.0296 a year earlier.

Total NAV as of June 30 was GBP 288 million, compared to GBP 148 million at the end of its previous financial year. Over the 12 months the UK solar fund invested GBP 139 million in eight acquisitions representing 124.3 MWp of capacity. It ended the year with a portfolio of 252.7 MWp of solar assets.

The company has declared total dividends of GBP 0.0725 for the year, above its target of GBP 0.07. It said that in spite of the reduction in power prices during the period, it has been supported by attractively priced acquisitions and strong contractual protections. The fund confirmed its goal of increasing its target dividend by the retail price index (RPI) in the coming years.

In spite of the moves of the UK government to end support for solar farms, it sees "a very substantial and immediate opportunity to acquire primary assets and a growing base of secondary assets."

(GBP 1.0 = USD 1.515/EUR 1.358)

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