18th Oct 2013 07:57
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd Friday said it has a binding contract to buy its fourth UK solar plant, taking it a step closer to its planned acquisition target.
It said it will buy a plant in Oxfordshire for GBP17 million. That means it has committed GBP55.3 million so far in solar plants with a capacity of 48 MegaWatt peak.
Earlier this month it bought a solar plant near Launceston in Cornwall for GBP9.4 million, and in September bought a plant in Norfolk for GBP17 million.
The fund said it expects the new Oxfordshire plant to start producing electricity in the first quarter of 2014.
With terms agreed on a further three solar sites, the fund is over 75% committed. The new sites are expected to take its commitments to about GBP100 million with a total energy capacity of about 83 MW peak.
It said it remains on track to make a 4 pence dividend in its first financial year that ends next June, and 7 pence in its second year, rising annually in line with the retail price index after that.
Bluefield shares were up 0.3% at 101.75 pence early Friday.
By Steve McGrath; [email protected]; @SteveMcGrath1
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