Regulatory Story
Go to market news section View chart   Print

Unaudited NAV 31 March 2018

Released 07:00 30-Apr-2018

RNS Number : 4538M
Bluefield Solar Income Fund Limited
30 April 2018


30 April 2018


Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')


Unaudited NAV 31 March 2018


Bluefield Solar (LON: BSIF), a sterling income fund that invests in UK-based solar assets, announces its net asset value ("NAV") as at 31 March 2018. Unless otherwise noted herein, the information provided in this announcement is unaudited.


The Company's NAV at 31 March 2018 was £417 million, or 112.81 pence per Ordinary Share, compared to the NAV at December 2017 of £416 million, or 112.40 pence per Ordinary Share. The NAV is cum the 1.8 pence per Ordinary Share dividend announced on 19 April 2018, and payable on     18 May 2018, in the same way the 31 December NAV was cum the 1.8 pence per Ordinary Share dividend announced on 8 January 2018, which was paid on 9 February 2018.


On 19 April 2018, the Company announced the acquisitions of Galton, Holly and East, totalling 13.9 Megawatt peak ("MWp") in capacity. The acquisitions were completed on 20 March 2018. Therefore, the projects have been included in the 31 March 2018 NAV on an invested cost basis.


The Company's NAV at 31 March 2018 reflects the adoption of the most recent power curves published by the Company's two independent power forecasters (which the Company blends on a 50/50 basis), one of them slightly higher, the other one unchanged. The NAV update further includes the application of Ofgem confirmed ROC buyout prices from April 2018 and a roll forward of portfolio working capital. The resulting NAV at 31 March 2018 shows little change from the Company's NAV at 31 December 2017.


All other core valuation assumptions have remained consistent with the NAV issued in the Company's financial statements for the period ending 31 December 2017.                                                                        



For further information:


Bluefield Partners LLP (Company Investment Adviser)
James Armstrong / Mike Rand / Giovanni Terranova

Tel: +44 (0) 20 7078 0020

Numis Securities Limited (Company Broker)
Tod Davis / David Benda

Tel: +44 (0) 20 7260 1000

Estera International Fund Managers (Guernsey) Limited
(Company Secretary & Administrator)
Kevin Smith

Tel: +44 (0) 1481 742 742

Media enquiries:
Buchanan (PR Adviser)
Henry Harrison-Topham / Henry Wilson

Tel: +44 (0) 20 7466 5000

Notes to Editors


About Bluefield Solar

Bluefield Solar is a sterling income fund focused on acquiring and managing UK-based solar projects to generate stable renewable energy for periods of typically 25 years or longer.  The Company's primary objective is to deliver its Shareholders stable, long term sterling income via quarterly dividends, which are linked to RPI.  The majority of the Group's revenue streams are regulated and non-correlated to traditional markets.  Bluefield Solar owns and operates one of the UK's largest, diversified portfolios of solar assets with a combined installed power capacity in excess of 460MWp.


Further information can be viewed at


About Bluefield Partners LLP ('Bluefield')

Bluefield was established in 2009 and is an investment adviser to companies and funds investing in solar energy infrastructure. It has a proven record in the selection, acquisition and supervision of large scale energy and infrastructure assets in the UK and Europe.  The team has been involved in over £1.5 billion of solar PV funds and/or transactions in both the UK and Europe since 2008, including over £800 million in the UK since December 2011. Bluefield currently advises on approximately 500MWp of solar PV assets, including Bluefield Solar.


Bluefield has led the acquisitions of, and currently advises on over 80 UK based solar PV assets that are agriculturally, commercially or industrially situated.  Based in its London office, Bluefield's partners are supported by a dedicated and highly experienced team of investment, legal and portfolio executives.  Bluefield was appointed Investment Adviser to the Company in June 2013.

This information is provided by RNS
The company news service from the London Stock Exchange

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Unaudited NAV 31 March 2018 - RNS