Bluefield Solar Income Fund to raise £150 million from share issue

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Bluefield Solar Income Fund to raise £150 million from share issue

UK listed renewables fund Bluefield Solar Income Fund (BSIF) has issued 150 million shares in order to raise about £150 million (US$239 million) to acquire new assets.

The issue began on Monday 3 November and is expected to close on 13 November 2014.

According to the fund, it will use the net proceeds from the issue to acquire 32 megawatts of existing solar power facilities and 105 megawatts of new solar plants in UK.

The 32 MW of existing solar capacity represents three solar projects which the BSIF had previously committed to purchase from the energy developers juwi and Solarcentury.

The other 105 MW involves five UK projects to be developed by Trina, Wircon, Solarcentury and Parabel AG. All the projects in the pipeline range in size from 5 MW to 50 MW.

Bluefield Solar Income Fund Ltd is a closed-ended investment incorporated Guernsey. The fund invests in a diversified portfolio of solar energy assets, each located within the United Kingdom, with a focus on utility scale assets and portfolios on greenfield, industrial and/or commercial sites. The fund focuses to target long life solar energy infrastructure.

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