80MW Energy Storage Acquisition

RNS Number : 3461M

Bluefield Solar Income Fund Limited

23 May 2022

 

23 May 2022

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

80 MW Energy Storage Acquisition

Two 40 MW ready to build projects purchased for £4.5 million

Bluefield Solar (LON: BSIF) the London listed income fund focused on acquiring and managing renewable energy and storage assets predominantly in the UK, is pleased to announce the acquisition of two standalone 40 MW battery storage projects from Green Hedge Energy UK Limited ('Green Hedge') for approximately £4.5 million.

The acquisition represents the development rights, grid connection costs and the leasehold of land for the two projects, which are based in Derbyshire and Worcestershire. Both projects are fully consented, benefit from near-term grid connections and the construction of the projects is expected to commence in 2022. Further updates will be provided to shareholders in due course.

John Rennocks, Chairman of Bluefield Solar, said: "We are delighted to have acquired these two significant battery storage developments from Green Hedge, which we look forward to building. Energy storage has a key role in supporting the decarbonisation of the electricity system in Great Britain. Once operational, it is intended the assets will be able to participate in a variety of valuable services to support the grid and to enable the Company to further diversify its revenue streams. The Board and our Investment Adviser continues to carefully assess a strong pipeline of opportunities across both primary and secondary markets."

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For further information:

Bluefield Partners LLP (Company Investment Adviser) James Armstrong / Neil Wood / Giovanni Terranova	Tel: [phone] www.bluefieldllp.com
Numis Securities Limited (Company Broker) Tod Davis / David Benda / Vicki Paine	Tel: [phone] www.numis.com
Ocorian (Company Secretary & Administrator) Patrick Ogier	Tel: [phone] www.ocorian.com
Media enquiries: Buchanan (PR Adviser) Henry Harrison-Topham / Henry Wilson	Tel: [phone] www.buchanan.uk.com [e-mail]

Notes to Editors

About Bluefield Solar

Bluefield Solar is a London listed income fund focused on acquiring and managing renewable energy and storage projects predominantly in the UK, to provide stable, long term dividends for its shareholders whilst furthering the decarbonisation of the energy system.  Not less than 75% of the Company's gross assets will be invested into UK solar assets.  The Company can also invest up to 25% of its gross assets into wind, hydro and storage technologies.  The majority of the Company's revenue streams are regulated and non-correlated to the UK energy market.  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 766 MWp.

Further information can be viewed at  www.bluefieldsif.com

About Bluefield Partners

Bluefield Partners LLP was established in 2009 and is an investment adviser to companies and funds investing in renewable energy infrastructure.  It has a proven record in the selection, acquisition and supervision of large-scale energy assets in the UK and Europe.  The team has been involved in over £4 billion renewable funds and/or transactions in both the UK and Europe, including over £1 billion in the UK since December 2011.

Bluefield Partners LLP has led the acquisitions of, and currently advises on, over 100 UK based solar PV assets that are agriculturally, commercially or industrially situated.  Based in its London office, it is supported by a dedicated and experienced team of investment, legal and portfolio executives.  Bluefield Partners LLP was appointed Investment Adviser to Bluefield Solar in June 2013.

 

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