Bluefield Solar Income Fund acquires two solar plants in the UK from juwi

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Bluefield Solar Income Fund acquires two solar plants in the UK from juwi

Bluefield Solar Income Fund Limited has entered into binding contracts to acquire two large-scale solar plants to be constructed in south west England from Juwi.

The acquisitions are the eleventh and twelfth made by the company in the past twelve months. The two assets comprise an 8.5 MW plant in Devon and a 6 MW plant in Somerset.

They are being acquired for a total consideration of £15 million including transaction costs, debt costs and working capital. They are expected to qualify under the 1.4 Renewable Obligation Certificate (ROC) regime.

The contracts have been signed with Juwi AG, the German renewable energy contractor. Its UK subsidiary, Juwi Renewable Energies, will build the plant. It will also undertake the ongoing operation and maintenance of the plant under a separate agreement. The Company has agreed strong contractual protections during the construction phase and post commissioning.

Since its Initial Public Offering (IPO) in July 2013, Bluefield Solar Income Fund has invested into twelve, wholly owned, solar plants with a combined energy capacity of c. 143 MW. These two new acquisitions, along with the acquisition of the Hertfordshire based plant announced on 18 June, 2014, are using part of the £50 million revolving credit facility provided by the Royal Bank of Scotland. The remaining nine assets in the portfolio were acquired using the IPO proceeds and subsequent placement; they are now grid connected and operational. As expected, Betingau in Glamorgan was grid connected under the 1.6 ROC banding and Sheppey, in Kent, under the 1.4 ROC banding.

List of country news

Country news

  • July 29, 2014

    Darby injects capital to Enzen, an energy infrastructure consulting

    Darby Private Equity, the private equity arm of Franklin Templeton Investments, announced that Darby Asia Opportunities Fund III (DAOF III) has completed an investment in Enzen Global Solutions Private Limited, an Indian company that provides consulting and engineering services in the energy and environment sector in India and the UK and has an electricity distribution business in India. Read more
  • July 29, 2014

    UK Government opens round of licenses for shale gas exploration

    UK Ministers have opened the bidding process for companies seeking licences to explore for onshore oil and gas. Business and Energy Minister Matthew Hancock published details of how companies can apply for licences which will enable them to start initial exploration for shale gas. Read more
  • August 01, 2014

    UK Green Investment Bank invests in distillery

    The UK Green Investment Bank (GIB) announced several days ago a further investment in the Scottish drinks industry. Read more
  • August 04, 2014

    Centrica plc appoints Iain Conn as Chief Executive

    Centrica plc last week announced the appointment of Iain Conn as Chief Executive with effect from 1 January 2015, at which point he will join the Centrica plc Board. Iain will succeed Sam Laidlaw who will retire from the Board on 31 December 2014. Read more
  • August 06, 2014

    Statkraft sells minority interest in UK onshore portfolio

    Statkraft has reached an agreement with China's Gingko Tree Investment Ltd for the sale of 49% of its onshore wind power portfolio in the UK. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.