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Bluefield Solar Income Fund Ltd on Monday said it has secured additional solar contracts in the UK.
Bluefield Solar is a Guernsey, UK-based investment company focused on low-carbon assets in the UK.
The company said it has won contracts for 62.4 megawatt of planned additional capacity through a contracts for difference allocation round.
The allocation round was the fourth since the 2015, and offered contracts of over 2.2 gigawatt.
‘The contract for difference scheme is the UK government's main mechanism for supporting low-carbon electricity generation and helps facilitate the UK's ambition to reach net-zero emissions by 2050,’ Bluefield Solar explained.
The contracts for difference have been secured for 100% of the generating capacity of Yelvertoft, 49.9MW, Romsey, 6.5MW, and Oulton, 6.0MW, solar projects, located in Northamptonshire, Hampshire and Norfolk, respectively.
They have a 15 years' duration, scheduled to commence from March 31, 2025, and are index linked to inflation annually. The allocation round solar strike price is £45.99/MWh - set in 2012 equivalent prices - or £57.48/MWh in 2022 equivalent prices.
Chair John Rennocks said: ‘This underlines the significant role that solar can, and should, play in being a solution to the energy crisis whilst adding to the UK's energy security.
‘It is also significant that the solar power sector was awarded 2.2GW of contract for difference contracts in allocation round at prices that represent roughly half of the cost of new nuclear investments and a quarter the current price of gas-generated electricity,’ Rennocks added.
Shares in Bluefield Solar were up 0.4% to 134.01 pence each in London on Monday morning.
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