Bluefield Solar raises £150m to replenish revolving credit facility

June 1 (Renewables Now) – Bluefield Solar Income Fund Ltd (LON:BSIF) today announced that it has raised approximately £150 million ($189 million/€176 million) in gross proceeds from its placement and to its subscription offer, announced in May.

The London-listed income fund will use the capital to repay its revolving credit facility, which has been fully drawn down following the company’s largest portfolio acquisition to date, a 93.2MWp portfolio of assets operational solar and wind farms in the UK, which was announced together. with the problem in May.

The issuance, which represented about 23% of the company’s ordinary share capital before the transaction, has attracted strong demand from new and existing investors, the fund said.

“Given the growing focus on meeting national renewable infrastructure generation targets and the recent completion of the company’s largest portfolio acquisition to date, I believe the current outlook presents the environment most compelling to the company’s strategy since its inception and we look forward to further educating shareholders on a new pipeline of potential acquisition opportunities,” said Bluefield Solar Chairman John Rennocks.

The company, which focuses on renewable energy and storage projects primarily in the UK, had extended the issuance schedule to allow investors to consider press speculation about a possible windfall tax on generators. ‘electricity.

(1 GBP = 1.258 USD/1.175 EUR)

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