Bluefield Solar gets 93.2-MW solar and wind portfolio in UK

• Bluefield Solar Income Fund Ltd (LON: BSIF) on Wednesday claimed it has actually gotten a 93.2-MWp portfolio of operational solar and wind assets in the UK from an unnamed UK-based fund manager for an equity consideration of GBP 112.4 million (USD 138.6 m/EUR 131.3 m).

The portfolio includes 64.9 MWp of solar capacity throughout 15 photovoltaic (PV) plants and 28.3 MWp of wind capacity throughout four wind farms. The facilities lie throughout England, Wales, Northern Ireland as well as Scotland. 5 of the solar projects get feed-in-tariffs and 10 get Renewable Obligation Certificates (ROCs), while every one of the wind farms are accredited under the ROC regimen. The income fund said that the percentage of fixed and regulated incomes from the portfolio is anticipated to be concerning 57% in the period 2021-2035.

The acquisition has been initially financed via the firm's new and bigger GBP-100-million rotating credit facility, given by RBS International and Santander UK. The credit facility has actually been included Might 2024 and also has a new accordion tranche of as much as another GBP 100 million.

Bluefield Solar likewise plans to raise new equity under its existing putting program, along with an offer for registration. New ordinary shares will be provided at a rate of GBP 1.3 apiece. The profits will go in the direction of paying for the company's revolving credit facility, which is currently totally drawn at GBP 200 million, as well as to pursue its investment pipe.

The procurement brings the fund's installed capacity to 766 MWp. It likewise has an advancement portfolio of over 600 MWp, consisting of 108 MWp of shovel-ready solar projects and also 125 MW of ready-to-build battery storage space projects.

"This, the Business's largest portfolio purchase to date, not only marks our 3rd acquisition of operational wind assets within twelve months, yet additionally adds a really attractively sized portfolio of highly controlled solar assets with a substantial percentage of inflation connected revenues to the firm's considerable existing portfolio," commented Bluefield Solar chairman John Rennocks.