24th Aug 2020 15:35
Bluefield Solar Income Fund Ltd - Guernsey-based income fund that invests primarily in solar assets - Acquires 15 operational solar photovoltaic plants with a total installed capacity of 64.2 megawatt peak for an initial cash consideration of GBP106.6 million. The final consideration may be increased up to GBP2.1 million dependent on securing asset life extensions. Agrees on a new GBP110.0 million, three-year term loan facility with National Westminster Bank PLC. Now has a total outstanding debt of GBP332.0 million and a total installed capacity regarding its portfolio of 543 megawatt peak. Chair John Rennocks says: "This acquisition will be immediately incremental to earnings and further underpins our projected results and dividends for the current financial year ending in June, 2021 and beyond."
Current stock price: 131.44 pence
Year-to-date change: down 7.1%
By Greg Roxburgh; [email protected]
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