Bluefield Solar Income Fund – Record year supports growth strategy
While shares across the whole of the renewable energy infrastructure sector have fallen over the past 12–18 months, the manager highlights that the execution by Bluefield Solar Income Fund (BSIF) has remained impressive, while maintaining its record of sector-leading distributions. The company’s record performance has been driven by locking in higher power prices through power purchase agreements. Thanks to the execution of these contracts, the manager notes that it has good visibility over the bulk of company earnings for the next few years.BSIF is now 10 years old and as at 30 June 2023 had delivered annualised returns of 6.6% to shareholders. The company has a pipeline of new investment opportunities totalling over 1.4GW. The chairman has expressed his frustration that the discount constrains BSIF’s ability to fund these with fresh equity.
Bluefield Solar Income Fund is a closed-ended investment company. Co. invests in a portfolio of solar energy assets, each located within the U.K., with a focus on utility scale assets and portfolios on greenfield, industrial and/or commercial sites.
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