Bluefield Solar gets 70MW UK PV park

Jan 11, 2021 05:32 PM ET
  • Bradenstoke project covers an 86-hectare site on a former RAF airbase in Wiltshire
Bluefield Solar gets 70MW UK PV park
Image: APPA/Unsplash

UK-focused revenue fund Bluefield Solar has obtained the operational 70MW Bradenstoke solar farm for ₤ 89m (EUR99m).

The business will certainly obtain the economic benefit of all cash flows from the plant from 1 April 2020, it claimed.

The plant, which covers an 86-hectare site on a former RAF airbase in Wiltshire, has actually been operational given that March 2015.

It is accredited under the Renewable Obligation Certificate (ROC) routine with a tariff of 1.4 ROCs.

Bluefield claimed the acquisition has been financed utilizing its revolving credit center, which, in addition to being included September 2022-- with an alternative to encompass September 2023-- has likewise been boosted, through an accordion system, to ₤ 100m.

Complying with the purchase, the company's overall arrearage has actually boosted to ₤ 370.4 m and also the complete installed capacity of its portfolio has expanded to 612MW.

The projects consist of UK solar possessions with high degrees of government backed earnings streams paid in sterling, Bluefield said.

Bluefield Solar chairman John Rennocks stated: "Following the top quality 64MW portfolio of ROC approved UK solar possessions that we acquired in August 2020, the acquisition of Bradenstoke is additional proof of our capability to source appealing possessions with high degrees of regulated profits.

" This procurement is promptly accretive to incomes and also additional underpins our forecasted outcomes and also returns for the existing fiscal year ending in June 2021 as well as beyond.

" The board as well as our investment adviser continue to thoroughly assess a strong pipeline of opportunities throughout both main as well as secondary markets."