28th Feb 2014 15:01
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd Friday said its net asset value has fallen marginally since its July listing.
The fund said its net asset value fell to GBP126.8 million at the end of December from GBP127.8 million on July 13.
Bluefield shares were quoted Friday afternoon at 102.33 pence, down 0.2%.
The company invests exclusively in long-term infrastructure assets, in particular, solar photovoltaic assets in the UK market.
Between listing and December 31, 2013, the company announced seven acquisitions and had committed over 75% of the GBP130 million proceeds of the initial public offering. It has since committed all of the proceeds. It raised a further GBP13.2 million on February 21.
On January 21, the company entered into a binding contract for GBP12 million to acquire its eighth large-scale solar plant in Kent, which will be constructed by the contractor Solar Century Holdings Limited.
On February 19, the company entered into a conditional contract for GBP21 million to acquire its ninth large-scale solar plant in Swindon with an energy capacity of 19 Megawatts Peak, which will be constructed by the contractor Wirsol Solar UK.
The fund declared a 2 pence interim dividend on February 19. Its dividend target is to pay 7.0 pence a year, rising in line with UK retail price index inflation.
"We have made very good progress to date, acquiring a diverse group of high quality assets at attractive prices. The company is laying the foundations to deliver its market leading dividend," John Rennocks, chairman, said in a statement.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Bluefield Solar