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Bluefield Solar Income Fund Ltd on Friday reported an increased net asset value as it lauded its ‘safe haven’ status.
The Guernsey-based income fund focused on UK-based renewable energy assets reported a NAV per share of 140.39 pence at June 30, up from 115.83p the year before.
The company's NAV rose 81% to £854.4 million from £471.4 million. Its NAV total return was 28%, up against 5.8% a year ago.
The company proposed a fourth interim dividend of 2.09 pence per share, meaning its full year dividend was 8.20p. Last year, it paid a full year dividend of 8p. The board confirmed its full year dividend guidance for 2023 as 8.40p.
Bluefield noted their performance in regards to a number of ESG key performance indicators. It said it had achieved over 120,000 tonnes of CO2 savings and generated over 624,000,000 kWh of renewable energy.
Chair John Rennocks said: ‘It is highly pleasing to report another set of excellent results for Bluefield Solar. With maiden investments into onshore wind and storage, as well as further acquisitions of solar, supported by two successful capital raises, the financial standing of the company has never been stronger as it enters the FTSE 250. Furthermore, the growth of the company's development pipeline to over 1.1 gigawatt, provides Bluefield Solar with a wonderful opportunity to play an increasing role in the transformation of the UK's energy map.''
Shares in Bluefield were trading 3.6% higher at 133.62 pence each on Friday morning.
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