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Bluefield Fund acquires Cornwall solar plant from Parabel

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October 11
6:08 AM 2013

According to the company's press release, Bluefield Solar Income Fund Limited had announced its acquisition of a large-scale solar plant located in Cornwall. The solar plant was previously owned and operated by German solar contractor Parabel AG. Bluefield purchased the 6.87 megawatt peak plant for GBP9.35 million without any debt financing.

The new Bluefield fund, which counted Bluefield Partners LLP as its investment adviser, had made three significant investments since its inception in July this year. The two assets were previously owned by Solarcentury and Ikaros Solar.

Bluefield said it would be committing on another acquisition soon in order to complete its investment commitment in the solar energy industry at around GBP100 million. Bluefield had also affirmed its commitment to surpass its target dividend delivery to investors of 4 pence per ordinary share for financial year ending June 30 next year, and 7 pence per ordinary share for the succeeding financial year. In addition, Bluefield had also committed in its statement to investors that it hoped to increase its target dividend year per year with retail price index (RPI) thereafter.

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