Bluefield Announces Additional 5.2MWp To Hardingham
Bluefield Solar Income Fund has announced that it has entered into a contract for the construction of a UK based solar energy plant. The 5.2 MWp ground based solar PVarray is an extension to the Hardingham Project, an operational solar PV asset based in Norfolk with a 14.8 MWp capacity, which already forms part of the Company's portfolio of operating assets. It is expected to qualify under the 1.4 Renewable Obligation Certificate regime. The extension is being funded for a consideration of £5.75m, including working capital and expenses.
The acquisition is the twenty fifth made by the Company and will be funded by part of the £123 million raised pursuant to the placing programme that closed on 13 November 2014.
Solarcentury will build the extension and will then warrant its performance for an initial period. It will undertake the ongoing operation and maintenance of the plant under a separate agreement.
The Company can confirm that it continues to target a dividend of 7 pence per ordinary share in respect of the Company's current financial year, which ends on 30 June 2015, with the intention of this rising annually with RPI thereafter. On 3 November 2014 the Company declared an interim dividend for the current financial period of 3.25 pence per ordinary share.
