Bluefield Solar Income Fund (BSIF)

[idpickering]

nb Finals released tomorrow.

Ian.

[idpickering]

Fourth Interim Dividend Announcement

Bluefield Solar (LON: BSIF), a UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to generate stable, long term dividends for its shareholders whilst furthering the decarbonisation of the energy system, is pleased to announce the Company's fourth interim dividend for the financial year which ended on 30 June 2021 (the 'Fourth Interim Dividend').

The Fourth Interim Dividend of 2.00 pence per Ordinary Share (September 2020: 2.05 pence per Ordinary Share) will be payable to Shareholders on the register as at 15 October 2021, with an associated ex-dividend date of 14 October 2021and a payment date on or around 8 November 2021.

The Board is pleased to have declared full year dividends of 8 pence per Ordinary Share for the financial year ending 30 June 2021 compared to a full year dividend of 7.90 pence per Ordinary Share for the financial year ending 30 June 2020. These dividends are covered by earnings post debt amortisation.

https://www.investegate.co.uk/bluefield ... 00089757N/

[idpickering]

Annual Report for the Year Ended 30 June 2021

https://www.investegate.co.uk/bluefield ... 01059810N/

[vand]

H1 2021/22 results
https://thebluefieldgroup.com/wp-conten ... n-2022.pdf

NAV continues to grow steadily

Net asset value per share 122.96 115.80 117.0

6.7% dividend

Share price hasn't done much over the last couple of years as the previous 20% premium to NAV has evapourated to zero, but that makes it a good time to buy, surely....

I bought more today, along with more FSFL. I've been gradually selling all my bond funds over the last year and switching into these high payout green energy plays.

quick interview
https://www.youtube.com/watch?v=9BDNj_M1czs

[idpickering]

Change to Director Roles and Responsibilities.

Bluefield Solar (LON: BSIF), a UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system , announces the following changes to the roles and responsibilities of some of the Directors, with effect from 29 November 2022, in accordance with listing rule 9.6.11.

In line with the information provided in the Notice of Annual General Meeting released on 1 November 2022, Mr John Rennocks has stepped down as the Chair of the Company and will remain an independent, non-executive Director until his retirement from the Board in Q1 2023.

Mr John Scott has been appointed as the new Chair of the Company and Mr Michael Gibbons CBE has been appointed as the new Senior Independent Director.

https://www.investegate.co.uk/bluefield ... 00061671I/

I'm toying with buying into this outfit soon perhaps, and FSFL too?

Ian.

[idpickering]

Acquisition of 46.4 MWp Solar Portfolio.

· 46.4 MWp UK portfolio of two large ground mounted solar assets

· 1.4 ROC assets which have been operational since 2015

· c.60% proportion of contracted and regulated projected revenues

· Equity consideration of £28.7 million, funded through the Company's Revolving Credit and Accordion Facility ('RCF')

Bluefield Solar (LON: BSIF), the UK income fund focused on acquiring and managing UK-based renewable energy and storage assets to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system, is pleased to announce the successful acquisition of a 46.4 megawatt peak ('MWp') operational solar portfolio from Fengate Asset Management, a leading North American firm specialising in real assets.

The enterprise value of the portfolio is £56.0 million, including the economic benefit of all cashflows from May 2022. The portfolio contains £27.3 million of long-term amortising debt provided by Macquarie.

The portfolio consists of two ground mounted solar photovoltaic ('PV') plants, a 39.3 MWp plant ('Raventhorpe') located in Scunthorpe, Lincolnshire and a 7.1 MWp facility ('Roanhead') located in Barrow-in-Furness, Cumbria.

Both solar sites are accredited under the Renewable Obligation Certificate ('ROC') regime with a tariff of 1.4 ROCs. In the period 2022 to 2035, the proportion of contracted and regulated revenues from the portfolio is projected to be approximately 60%.

Following the acquisition, the Company's total outstanding debt has increased to £537 million (including RCF drawings of £120 million) and the total installed capacity of its portfolio has grown to 813 MWp. The leverage level of the Company has increased from 37% to c.40% of Gross Asset Value.

John Scott, Chairman of Bluefield Solar, said: "We are delighted to have acquired this high-quality portfolio of operating assets from Fengate Asset Management. The portfolio includes a high proportion of contracted and regulated revenues, and so represents a natural complement to the Company's significant development pipeline of new build solar and storage projects. Furthermore, the acquisition underpins the Board's confidence in delivering our FY 2022/23 target dividend of not less than 8.40pps (FY 2021/22: 8.12pps)."

https://www.investegate.co.uk/bluefield ... 00036918K/

I mentioned on another post on this board that I was thinking about buying into this stock, and Foresight Solar Fund Ltd too, and that happened last week.

Ian.

[idpickering]

First Interim Dividend Announcement.

Bluefield Solar (LON: BSIF), the London listed income fund focused on acquiring and managing renewable energy and storage assets predominantly in the UK, is pleased to announce the Company's first interim dividend for the financial year ending 30 June 2023 (the 'First Interim Dividend').

The First Interim Dividend of 2.10 pence per Ordinary Share (January 2022: 2.03 pence per Ordinary Share) will be payable to Shareholders on the register as at 3 February 2023, with an associated ex-dividend date of 2 February 2023and a payment date on or around 3 March 2023.

Furthermore, the Board is pleased to reaffirm its guidance of a full year dividend of not less than 8.40 pence per Ordinary Share for the financial year ending 30 June 2023 (2022: 8.20 pence). This is expected to be covered by earnings and to be post debt amortisation.

https://www.investegate.co.uk/bluefield ... 00044617N/

Ian (I hold, and will be topping up my holdings soon).

[idpickering]

Notice of Interim Results.

Bluefield Solar (LON: BSIF), the London listed income fund focused on acquiring and managing renewable energy and storage assets predominantly in the UK, will announce its Interim Results for the Half Year ended 31 December 2022 on Tuesday, 28 February 2023.

A virtual meeting for analysts will be held at 09:30am on the morning of the results announcement via Zoom and an audio webcast will also be available on the Company's website later that day.

To register for the analyst briefing, please contact Buchanan on BSIF@buchanan.uk.com .

https://www.investegate.co.uk/bluefield ... 00049323O/

As mentioned before, I now hold BSIF, and and can add that BSIF has now been brought up to average capital value weighting in my 28 share HYP.

nb. Further chat hereabouts about my HYP is not for here.

Ian.

[idpickering]

Interim Report and Unaudited Condensed Interim Financial Statements for the six months ended 31 December 2022.

Bluefield Solar (LON:BSIF), the London listed income fund focused on acquiring and managing renewable energy and storage assets predominately in the UK, is pleased to announce its Interim Report for the six months ended 31 December 2022.

The Interim Report has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

NAV £870.7m.

Underlying Earnings1 (pre amortisation of debt)

£51.4m.

Underlying Earnings per share1 (pre amortisation of debt)

8.41p 4.31p.

Post period end, on 23 January 2023, the Board declared its first interim dividend of £12,840,497, in respect of year ending 30 June 2023, equating to 2.10pps (first interim dividend in respect of the year ended 30 June 2022: 2.03pps), which will be paid on 3 March 2023 to Shareholders on the register on 3 February 2023.

https://www.investegate.co.uk/bluefield ... 00082162R/

Ian.

[idpickering]

Bluefield Solar (LON: BSIF), the London listed income fund focused on acquiring and managing renewable energy and storage assets predominantly in the UK,announces that Computershare Investor Services (Guernsey) Limited ('Computershare') will be appointed as the Company's Registrar with effect from close of business on 10 March 2023, replacing Link Asset Services.

A welcome letter from Computershare will be sent to all shareholders in due course which will include important information for shareholders to action. The contact details of Computershare are as follows:

https://www.investegate.co.uk/bluefield ... 00021949S/

Ian.

[idpickering]

Re-financing, increase and extension of £110 million NatWest term loan to £130 million.

Bluefield Solar (LON: BSIF), the UK income fund focused on acquiring and managing UK-based renewable energy and storage assets to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system, is pleased to announce the successful re-financing of its £110 million three-year term loan with NatWest.

The original loan, 75% hedged with a swap at circa 0.35% over a notional 18-year period, had a maturity of September 2023 and has been increased to £130 million and extended in maturity to December 2039.

Hedging has been put in place for the tenor of the loan on £110 million, at an effective all-in cost of circa 2.7% (being margin and swap rate).

The financing is secured against the UK-based portfolio of 15 operational solar photovoltaic ('PV') plants with a total installed capacity of 64 megawatt peak ('MWp'), acquired in August 2020 using the original £110 million term loan, as well as 16 operational PV plants totalling 75 MWp acquired by the Company prior to 2020. The total portfolio of 139 MWp benefits from attractive subsidies; 29 of the projects are accredited under the Renewable Obligation Certificate ('ROC') regime with tariffs ranging from 1.2 - 2.0 ROCs, while 2 of the projects are accredited under the feed-in-tariff ('FiT') scheme.

And later;

John Scott, Chair of Bluefield Solar, said: "We are delighted to have completed the re-financing of this three-year term loan at an all-in cost materially below current debt rates. Furthermore, it is particularly pleasing that the £20 million increase in the facility is supporting the construction of the Company's first CfD-backed solar PV plant. This re-financing further underpins the Board's confidence in delivering our target FY 2022/23 dividend of not less than 8.40pps (FY 2021/22: 8.20pps)."

https://www.londonstockexchange.com/new ... n/15938126

Ian (I hold).