Bluefield Solar : BSIF – acquisition and fund raising

Bluefield Solar is buying its ninth solar plant, a 19MW facility north of Swindon. The plant will cost £21m and will be connected to the grid in March. It is eligible for government subsidy (qualifying for 1.6 renewable obligation certificates). BSIF cash £14m of cash so to fund the balance of the deal it needs to raise money. They’ve decided to aim to raise £13m to give them a cash buffer.

Bluefield Solar has also confirmed today that it plans to pay the dividends it promised previously of 4p in its first period ended 30 June 2014, 7p for the following year and RPI increases thereafter. Kicking this off with a 2p dividend declared today.

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