Sunny days for Bluefield


Sunny days for Bluefield – Bluefield Solar’s interim results for the six months ended 31 December continue on a positive note. Highlights are:

  • Shareholders approved an expansion of the company’s remit to include investment outside of solar infrastructure assets, notably wind and energy storage.
  • Shareholders also approved an update to the dividend policy.
  • Bluefield completed the acquisition of a portfolio of fifteen UK ground mounted operating PV assets for a combined value of up to £106.6m (including working capital).
  • The company raised £45m from an oversubscribed issue of shares in November 2020.
  • Bluefield, working with its development partner Lightrock Power, achieved planning consent in November 2020 for a 50MWp PV plant, the first in its pipeline of subsidy free solar developments.
  • Power prices continued to rise, from a low of £24.18MWh in April 2020, during the first wave of the pandemic, to a twelve month high in December 2020 £54.98MWh, as rising gas and carbon prices pushed electricity prices higher.
  • Despite varying degrees of lockdown restrictions, the company’s principal operations and maintenance provider, Bluefield Operations, has continued to provide full contractual services and is a key element behind the highly pleasing technical performance of the portfolio.

The period end NAV was 117.12p, up from 117.01p and dividends total 4p for the year so far.

BSIF : Sunny days for Bluefield

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