30th Mar 2015 08:42
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd on Monday said it has entered a deal to acquire a solar energy plant in Norfolk for GBP56.5 million.
The ground-based solar photovoltaic project has a capacity of 49.9 megawatts peak, Bluefield said, and is being acquired from Trina Solar Luxembourg Systems Sarl, the Chinese module manufacturer.
The deal brings Bluefield's combined energy capacity within its portfolio to more than 250 megawatts peak.
The deal means Bluefield has now deployed the GBP131 million that it raised in a placing last November. Due to the size of the acquisition, the project is also being part funded using about GBP20 million of the company's GBP50 million revolving credit facility with Royal Bank of Scotland PLC.
Shares in Bluefield were down 0.2% to 106.493 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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