7th Oct 2013 10:09
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd Monday said it has committed over 75% of its funds after its investment advisor agreed terms on the acquisition of five more large-scale solar plants.
"Combined with the two acquisitions already announced by the fund, the new assets are expected to take the Fund's total commitments to about GBP96 million, with a total energy capacity of about 83 MegaWatt Peak," it said in a statement.
It said the new acquisitions are located across East Anglia, south and south west of England and, as with the two previous acquisitions, all have planning consent and completed grid offers.
"The fund can confirm that, based on the existing committed projects and the terms agreed on this portfolio, it remains on course to deliver against its target dividend of 4 pence per ordinary share in relation to the first financial year ending 30 June 2014, and 7 pence per ordinary share in respect of the company's second financial year, with the intention of this rising annually with RPI thereafter," it said.
The fund is also in advanced talks on a further GBP175 million of potential assets, which it expects to fund by issuing shares, Bluefield added.
Bluefield shares were flat at 102.50 pence Monday morning.
By Steve McGrath; [email protected]; @SteveMcGrath1
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