Bluefield Solar Income Fund (BSIF) has announced the acquisition of a solar farm project in Oxfordshire from London-based solar developer Solarcentury.

The 15MW solar farm has been acquired for a total investment consideration of £17 million, taking BSIF’s total spend on UK solar projects to £55.3 million.

The solar farm in Oxfordshire is expected to energise in the first quarter of 2014, qualifying for the 1.6 renewable obligation certificate (ROC) banding. Under the terms of the sale, Solarcentury will be retained under an operation and maintenance contract.

In total, BSIF has invested in 48MWp of solar capacity across the UK at an investment value of £1.12 million per MWp.

BSIF has confirmed that it is on track to deliver against its target divided of 4p/share in relation to the first financial year ending 30 June 2014, and 7p/share for the company’s second financial year.