21st Jan 2014 11:21
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd said Tuesday it has entered into a binding contract to acquire a new solar plant; the company has now committed approximately 85% of its IPO proceeds in the six months since listing.
The new plant will be Bluefield's eighth, taking the company's investment into UK-based solar plants to a combined capacity of 92 MegaWatts Peak.
The company raised GBP130 million in its initial public offering in July last year, with the latest acquisition of the Kent-based plant taking the amount of committed proceeds to around 85% since the company listed on the London Stock Exchange.
Solarcentury will build the Kent based plant and will then warrant its performance for an initial period. It will undertake the ongoing operation and maintenance of the plant under a separate agreement, said Bluefield.
In a statement the company said that it remains on course to deliver its target dividend of 4 pence per ordinary share for the financial year to June 30 2014 and 7 pence per ordinary share for the second financial year. Bluefield said it intends to then increase this annually with RPI.
Shares in Bluefield were quoted at 100.50 pence Tuesday morning, untraded.
By Alice Attwood; [email protected]; @AliceAtAlliance
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