Bluefield Solar Income Fund Limited Unaudited NAV 30 September 2019 (2237S)
05 Noviembre 2019 - 1:00AM
UK Regulatory
TIDMBSIF
RNS Number : 2237S
Bluefield Solar Income Fund Limited
05 November 2019
5 November 2019
Bluefield Solar Income Fund Limited
('Bluefield Solar' or the 'Company')
Unaudited NAV 30 September 2019
Bluefield Solar (LON: BSIF), a sterling income fund that invests
in UK-based solar assets, announces its net asset value ("NAV") as
at 30 September 2019. Unless otherwise noted herein, the
information provided in this announcement is unaudited.
The Company's NAV at 30 September 2019 was GBP431.4 million, or
116.62 pence per Ordinary Share, compared to the NAV at 30 June
2019 of GBP436.4 million, or 117.98 pence per Ordinary Share. The
30 September NAV is stated after deducting the dividend of 2.61
pence per Ordinary share announced on 19 September 2019 and paid on
1 November 2019.
This equates to a NAV total return (including dividends paid in
the period of 1.90 pence per Ordinary share) for the quarter of
0.5%.
The dividend of 2.61 pence per Ordinary share paid on 1 November
2019 represents the fourth interim dividend of 1.98 pence per
Ordinary as well as an additional dividend of 0.63 pence per
Ordinary share in respect of the financial year ending 30 June
2019, resulting in total dividends paid in respect of the 2018/19
financial year of 8.31 pence per Ordinary share (being target
dividends of 7.68 pence and an additional dividend of 0.63
pence).
As stated in the financial year ('FY') 2019 annual report, the
Board has indicated that target dividends for 2019/20 are 7.90
pence per Ordinary share.
The Company's NAV at 30 September 2019 reflects the adoption of
the most recent power curves published by the Company's two
independent power forecasters (which the Company blends on a 50/50
basis) as well as working capital movements over the quarter. The
NAV update also includes PPA contracts fixed in the period to 30
September 2019 and as well inclusion of an additional 50MWp
(c150MWp in total) now valued on the basis of 40 year asset
life.
All other core valuation assumptions have remained consistent
with the NAV issued in the Company's financial statements for the
period ending 30 June 2019.
For further information:
Bluefield Partners LLP (Company Investment Adviser) Tel: +44 (0) 20 7078 0020
James Armstrong / Mike Rand / Giovanni Terranova www.bluefieldllp.com
Numis Securities Limited (Company Broker) Tel: +44 (0) 20 7260 1000
Tod Davis / David Benda www.numis.com
Estera International Fund Managers (Guernsey) Limited Tel: +44 (0) 1481 742 742
(Company Secretary & Administrator) www.estera.com
Kevin Smith
Media enquiries: Tel: +44 (0) 20 7466 5000
Buchanan (PR Adviser) www.buchanan.uk.com
Henry Harrison-Topham / Henry Wilson / Victoria Hayns BSIF@buchanan.uk.com
Notes to Editors
About Bluefield Solar
Bluefield Solar is a sterling income fund focused on acquiring
and managing UK-based solar projects to generate renewable energy
for periods of typically 25 years or longer. The Company's primary
objective is to deliver to its shareholders stable, long term
sterling income via quarterly dividends, which are linked to RPI.
The majority of the Group's revenue streams are regulated and
non-correlated to traditional markets. 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 465
Megawatt peak (MWp). Further information can be viewed at
www.bluefieldsif.com
About Bluefield Partners LLP ('Bluefield')
Bluefield was established in 2009 and is an investment adviser
to companies and funds investing in solar energy infrastructure. It
has a proven record in the selection, acquisition and supervision
of large-scale energy and infrastructure assets in the UK and
Europe. The team has been involved in over GBP1.5 billion of solar
PV funds and/or transactions in both the UK and Europe since 2008,
including over GBP800 million in the UK since December 2011.
Bluefield has led the acquisitions of, and currently advises on,
over 85 UK based solar PV assets that are agriculturally,
commercially or industrially situated. Based in its London office,
Bluefield's partners are supported by a dedicated and highly
experienced team of investment, legal and portfolio executives.
Bluefield was appointed Investment Adviser to the Company in June
2013.
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.
END
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