25th Jan 2016 16:53
LONDON (Alliance News) - Bluefield Solar Income Fund Ltd late Monday said it has increased its credit facility so it can acquire six new solar plants for a total of GBP149.0 million.
The company said it has struck a deal with Royal Bank of Scotland PLC and Investec PLC to increase its credit facility to GBP200.0 million from only GBP50.0 million, so it can purchase the six plants that hold a total capacity of 104.5 megawatts peak.
Of the six plants acquired, four of them were purchased from Primrose Solar Management Ltd, with the assets all located in Hampshire, Kent and Sussex. The other two assets are smaller plants which are based in Gloucestershire and expected to be operational before the end of March.
In addition, the company said it intends to "meet or exceed" its target dividend of 7.07 pence per share for the current financial year, which ends on June 30, 2016, with the intention of this rising annually with RPI thereafter.
In the last financial year, Bluefield paid a dividend of 7.25p.
Bluefield shares closed up 0.5% to 99.50 pence per share on Monday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
Related Shares:
Bluefield Solar