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Bluefield Solar Income Fund Ltd on Thursday said it increased its credit facilities to help fund its investment pipeline. The Guernsey-based income fund focused on UK-based renewable energy assets said it increased its existing £110.0 million revolving credit facility up to £210.0 million. The facility’s uncommitted accordion feature will allow it to be sized up by a further £30 million. The facility is currently £153.0 million, with the firm’s debt totalling £584.8 million. Considering the company’s net asset value of £850.2 million at March 31, the firm now has a leverage level of around 41% of gross asset value. It has also extended the term of the facility through to May 2025. ‘The increase in the RCF provides the company with additional liquidity to support further investments in high-quality infrastructure assets from Bluefield Solar’s near-term investment pipeline,’ Bluefield said. Shares in Bluefield were up 0.7% at 122.20 pence each in London on Thursday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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