19th Nov 2013 17:26
LONDON (Alliance News) - Bluefield Solar Income Fund Limited Tuesday said its investment adviser has agreed terms on a further three large-scale solar-energy sites that will take the company to over 75% committed.
Combined with its previous four acquisitions, the new sites are expected to take its total commitments to around GBP100 million. It is negotiating a further pipeline of GBP175 million.
The company's net asset value per share was 97.84 pence on September 30, compared to 98.05 pence on July 12. The company has no borrowings.
It said it is targeting an initial dividend for the year ending June 30, 2014 of 4 pence per share, rising to 7 pence the following year, and then in line with the UK retail price index thereafter.
"Deployment of the net proceeds of the IPO is expected to be significantly ahead of schedule. Market conditions continue to appear attractive and there is a growing base of primary and secondary assets that are potential acquisition targets," the company said in a statement.
Shares in Bluefield, which commenced trading on the main market of the London Stock Exchange on July 12, Tuesday closed at 98.5 pence, down 0.8%.
By Samuel Agini; [email protected]; @samuelagini
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