The Bluefield Solar Income Fund (BSIF) has announced the acquisition of five more large-scale PV projects in the UK.
With the latest acquisitions the fund, which was launched on the London Stock Exchange over the summer, will be 75% committed, with an 83MW project portfolio worth £96 million on its books.
The latest acquisitions are located across the east, south and south-west of England. All the projects have planning consent and completed grid offers.
Bluefield said one of the assets acquired by the fund was a large-scale operational asset that was grid connected before April 2013, therefore qualifying under the 2 Renewable Obligation Certificates (“ROC”) banding.
Bluefield also said it was in advanced negotiations over a further £175 million of potential 1.6 ROC-qualifying assets totalling around 150MW, which it anticipates funding through further equity issuance.
John Rennocks, chairman of BSIF, said: “The company looks set to be deployed ahead of target into high-quality assets delivered by a select group of high quality contractors. The board is pleased with progress made so far.”
BSIF was the first fund of its kind to be listed on the London Stock Exchange dedicated specifically to solar energy. With the £130 million it raised through its initial flotation it will invest in large-scale agricultural and industrial PV projects.