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Bluefield Solar Income Fund Ltd on Friday said it acquired a 46.4 megawatt peak solar portfolio of two large ground-mounted solar assets.
The renewables investor said the value of the portfolio is around £56.0 million, including its cashflows from May this year.
The two assets are a 39.3 megawatt peak solar photovoltaic plant in Scunthorpe, Lincolnshire, and a 7.1 megawatt peak facility in Barrow-in-Furness, Cumbria.
Bluefield Solar said following the acquisition, the company’s total outstanding debt has increased to £537 million, and the total installed capacity of its portfolio has grown to 813 megawatt peak. The leverage level of the company has increased from 37% to about 40% of gross asset value.
Bluefield Solar Chair John Scott said: ‘We are delighted to have acquired this high-quality portfolio of operating assets from Fengate Asset Management. The portfolio includes a high proportion of contracted and regulated revenues, and so represents a natural complement to the company’s significant development pipeline of new build solar and storage projects.’
Bluefield Solar shares were up 0.2% at 136.26 pence each on Friday morning in London.
By Xindi Wei, Alliance News reporter
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