Bluefield Solar Income Fund acquires 10th UK-based solar plant for £19m

18th Jun 2014 12:22

Investment group Bluefield Solar Income Fund announced it has entered into binding contracts to acquire its 10th UK-based solar plant for £19m.The large-scale solar plant, which is located in Hertfordshire, is expected to qualify under the 1.4 Renewable Obligation Certificate regime. Energy group SolarCentury will build the 17.5 megawatt solar plant and then warrant its performance for an initial period. The group, which has invested into 10 solar plants since its initial public offering in July last year, used part of the Royal Bank of Scotland's revolving credit facility to build its most recent plant.The three-year facility, worth up to £50m, includes a working capital element, which is anticipated would provide the company with a source of funding to make further acquisitions of solar energy assets in the UK.As of 12:58 the share price had risen by 0.62% to 102p.WS