Bluefield Solar to buy another Solarcentury project for GBP 17m

Oct 18, 2013 - Bluefield Solar Income Fund Ltd (LON:BSIF) said today it had agreed to purchase a solar plant in South East England from UK firm Solarcentury in a GBP-17-million deal (USD 28m/EUR 20m).

Bluefield, which in July raised GBP 130 million in an initial public offering (IPO), has sealed binding contracts for the acquisition, which will be its fourth large-scale solar plant in the UK.

The facility is currently being built in England’s Oxfordshire. Following the sale, Solarcentury will warrant the plant’s performance for an initial period and will also deliver operations and maintenance (O&M) services under a separate contract. The photovoltaic (PV) system is expected to start producing power in the first quarter of 2014 and to qualify for Renewable Obligation Certificates (ROCs).

The current acquisition is Bluefield Solar's second purchase from Solarcentury, following the GBP-17-million buy of a solar project in Norfolk, England in September. The investor calculates that together with several other agreed solar acquisitions, its total energy capacity will increase to 83 MWp. Once these are completed the fund will have spent GBP 100 million on renewable energy buys.

(GBP 1.0 = USD 1.618/EUR 1.183)

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