The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksBluefield Solar Regulatory News (BSIF)

Share Price Information for Bluefield Solar (BSIF)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 106.40
Bid: 106.40
Ask: 106.80
Change: -0.40 (-0.37%)
Spread: 0.40 (0.376%)
Open: 106.80
High: 107.40
Low: 106.40
Prev. Close: 106.80
BSIF Live PriceLast checked at -
Bluefield Solar Income Fund is an Investment Trust

To provide Shareholders with an attractive return, principally in the form of quarterly income distributions by being invested primarily in solar energy assets located in the UK.

Find out More

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Unaudited NAV 31 Mar 2023 and 2nd Interim Dividend

11 May 2023 07:00

RNS Number : 0096Z
Bluefield Solar Income Fund Limited
11 May 2023
 

11 May 2023

 

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

 

Unaudited NAV 31 March 2023 and Second Interim Dividend

 

Bluefield Solar (LON: BSIF), the UK income fund focused on acquiring and managing UK-based renewable energy and storage assets to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system, announces its net asset value ('NAV') as at 31 March 2023, and the Company's second interim dividend for the current financial year, which ends on 30 June 2023. Unless otherwise noted herein, the information provided in this announcement is unaudited.

The NAV as at 31 March 2023 was £850.2 million, or 139.1 pence per Ordinary Share ('pps'), compared to the unaudited NAV of 142.4 pps as at 31 December 2022. This equates to a reduction of the 31 March 2023 NAV of -3.3pps (vs 31 Dec 2022 NAV) and a NAV total return for the quarter of -2.3%.

The NAV includes the published power curve forecasts, available at 31 March 2023, from the Company's three leading independent power forecasters, all of which have lower price forecasts for the near term compared to the previously published power curves, as well as updates for operational performance and continued investment in the Company's development pipeline and construction of Yelvertoft (a CfD backed 48MWp solar photovoltaic ('PV') project).

The movements are summarised in the table below for completeness:

 

pps movement

NAV as at 31 December 2022

142.4

Power curve updates

(1.6)

Operational updates

(0.8)

Development and construction

(1.5)

Working capital and other

0.6

NAV as at 31 March 2023

139.1

 

The Company's proprietary development pipeline now stands at 1.40GW (955MW of solar and 444MW of storage) and gearing (based on the Gross Asset Value of the Company) is 40% as at 31 March 2023.

All other core valuation assumptions remain consistent with the NAV issued in the Company's Interim financial statements for the period ended 31 December 2022.

A second interim dividend of 2.10 pence per Ordinary Share (May 2022: 2.03 pps) will be payable to shareholders on the register as at 19 May 2023 with an associated ex-dividend date of 18 May 2023 and a payment date on or around 12 June 2023. Dividends declared to date for the current financial year now stand at 4.20 pps.

For the avoidance of doubt, the 31 March 2023 NAV does not include a liability for the second interim dividend of 2.10 pence per Ordinary Share as this has been declared post 31 March 2023.

Furthermore, the Board is pleased to reconfirm its guidance of a full year dividend of not less than 8.40 pence per Ordinary Share for the financial year ending 30 June 2023. This is expected to be covered by earnings and is post debt amortisation.

 

- Ends -

 

For further information:

Bluefield Partners LLP (Company Investment Adviser)James Armstrong / Neil Wood / Giovanni Terranova

Tel: +44 (0) 20 7078 0020 www.bluefieldllp.com

 

Numis Securities Limited (Company Broker)Tod Davis / David Benda

Tel: +44 (0) 20 7260 1000 www.numis.com

 

Ocorian (Company Secretary & Administrator)Patrick Ogier

Tel: +44 (0) 1481 742 742 www.ocorian.com

 

Media enquiries:Buchanan (PR Adviser)Henry Harrison-Topham / Henry Wilson / Abigail Gilchrist

 

Tel: +44 (0) 20 7466 5000 www.buchanan.uk.comBSIF@buchanan.uk.com

Notes to Editors

About Bluefield Solar

Bluefield Solar is a sterling income fund focused on acquiring and managing renewable energy and storage projects in the UK, to provide long term, growing dividends for its shareholders whilst furthering the decarbonisation of the energy system. Not less than 75% of the Company's gross assets will be invested into UK solar assets. The Company can also invest up to 25% of its gross assets into other technologies, such as wind and storage. The majority of the Company's revenue streams are regulated and non-correlated to short term UK energy market fluctuations. Bluefield Solar owns and operates one of the UK's largest, diversified portfolios of solar assets with a combined installed power capacity in excess of 812 MWp.

 

Bluefield Solar is listed on the Main Market of the London Stock Exchange and is a member of the FTSE 250 index, classified within the Closed End Investments subsector.

 

Further information can be viewed at www.bluefieldsif.com

 

About Bluefield Partners

Bluefield Partners LLP was established in 2009 and is an investment adviser to companies and funds investing in renewable energy infrastructure. It has a proven record in the selection, acquisition and supervision of large-scale energy assets in the UK and Europe. The team has been involved in over £4 billion renewable funds and/or transactions in both the UK and Europe, including over £1 billion in the UK since December 2011.

 

Bluefield Partners LLP has led the acquisitions of, and currently advises on, over 100 UK based solar PV assets that are agriculturally, commercially or industrially situated. Based in its London office, it is supported by a dedicated and experienced team of investment, legal and portfolio executives. Bluefield Partners LLP was appointed Investment Adviser to Bluefield Solar in June 2013.

 

- Ends -

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
DIVAMMFTMTJBBFJ
Date   Source Headline
22nd Aug 20177:00 amRNSNotice of Full Year Results
18th Aug 20171:49 pmRNSHolding(s) in Company
8th Aug 20177:00 amRNSThird Interim Dividend Announcement
8th Jun 20172:19 pmRNSDirector Declaration
15th May 20174:52 pmRNSDirector Notification
11th May 20177:00 amRNSInterim Dividend & Unaudited 31 March 2017 NAV
30th Mar 201711:42 amRNSDirector/PDMR Shareholding
3rd Mar 20174:55 pmRNSDirector/PDMR Shareholding
23rd Feb 20177:00 amRNSInterim Results
8th Feb 20172:39 pmRNSInterim Results Presentation Replacement
7th Feb 201711:20 amRNSInterim Results Presentation
10th Jan 201711:50 amRNSNotification of Transaction of PDMR
8th Dec 20169:06 amRNSDirector/PDMR Shareholding
7th Dec 20167:00 amRNSFive Acquisitions
1st Dec 20165:18 pmRNSDirector/PDMR Shareholding
1st Dec 20167:00 amRNSTotal Voting Rights
24th Nov 201610:49 amRNSIssue of Ordinary Shares
17th Nov 20162:58 pmRNSResult of AGM
1st Nov 20167:00 amRNSTotal Voting Rights
27th Oct 201611:33 amRNSHolding(s) in Company
25th Oct 20167:00 amRNSNotice of AGM
24th Oct 201611:53 amRNSDirector Shareholding
20th Oct 20167:00 amRNSResult of Issue
12th Oct 20162:32 pmRNSPublication of Supplementary Prospectus
6th Oct 20162:01 pmRNSPlacing Programme Issue & Dividend Declaration
4th Oct 20167:00 amRNSDividend Declaration
4th Oct 20167:00 amRNSFull Year Results
27th Sep 20167:00 amRNSLong Term Financing Terms & Trading Update
22nd Sep 20167:00 amRNSFull Year Results Presentation
11th Aug 20167:13 amRNSThird Interim Dividend Announcement
22nd Jul 201611:46 amRNSHolding(s) in Company
18th Jul 20163:32 pmRNSHolding(s) in Company
1st Jul 201610:50 amRNSPublication of Supplementary Prospectus
1st Jul 201610:43 amRNSResult of Extraordinary General Meeting
21st Jun 20165:11 pmRNSHolding(s) in Company
8th Jun 20167:00 amRNSNotice of EGM Proposed Change to Investment Policy
3rd May 20167:00 amRNSUnaudited 31 March 2016 NAV
26th Apr 20167:00 amRNSDividend Declaration
19th Apr 20167:00 amRNSAcquisition and Construction Update
14th Apr 201611:51 amRNSHolding(s) in Company
9th Mar 20163:30 pmRNSInterim Accounts Supplemental Prospectus
3rd Mar 20165:43 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:42 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:42 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:39 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:37 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:36 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:36 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:35 pmRNSDirector/PDMR Shareholding
3rd Mar 20165:31 pmRNSDirector/PDMR Shareholding

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.