Last checked at 
20 Jul 2021 11:01
Bluefield Solar Income Fund - Update research from QuotedData
1st July 2021
Transformational deal
Bluefield Solar Income Fund (BSIF)'s ambition to expand beyond its narrow focus on solar power generation looks close to fruition, with the announcement of a deal to buy a portfolio of 109 wind turbines, located across the UK. This is the first in a series of transactions aimed at diversifying BSIF's asset base. The target is to have 25% of its portfolio in assets other than solar within 18 months.
BSIF's debt facilities are almost fully utilised. To finance the deal, BSIF is turning to investors and has published a prospectus in connection with an initial placing, open offer, offer for subscription, and a subsequent placing programme. In the first instance, BSIF hopes to raise gross proceeds of up to £150m by issuing up to about 127.1m shares at 118p. If shareholders approve, this and subsequent issues could more than double the equity base of the company. The managers have identified a substantial pipeline of potential acquisitions, and BSIF should have a more diversified base of assets, technologies and revenue streams a couple of years from now.
Full research:
https://quoteddata.com/research/bluefield-solar-income-fund-transformational-deal/
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