Bluefield Solar Income Fund (BSIF) has announced the acquisition of a solar farm project in Cornwall from German solar developer Parabel AG.

The site near Launceston represents a total investment of £6.87 million by BSIF. The 6.87MW solar farm was connected at the end of March 2013, in time to take advantage of the 2 Renewable Obligation Certificate (ROC) scheme.

The acquisition of the Cornish solar farm takes the fund’s total commitments to nearly £100 million, representing 83MW of large-scale solar capacity. This means that BSIF’s average acquisition cost per MWp stands at £1.16 million. Bluefield has agreed terms on a further four large-scale solar sites that will take the fund to over 75% committed.  

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.