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The Bluefield Solar Income fund has increased its portfolio by 128MW over the last year following ten solar farm acquisitions worth £147 million.
In its full-year results for the period ending 30 June 2014, the fund said it invested £125 million in nine operational solar assets with a capacity of 111MW.
The remaining asset, committed to in June this year, is under construction and is expected to be grid connected in the fourth quarter, the fund said.
Since the end of the June the fund has acquired a further two solar projects bringing its total to date to twelve projects worth £162 million with a combined energy capacity of 143MW.
“The board is confident that the portfolio will deliver the target returns to our shareholders and, importantly, will provide the company with a solid platform from which to grow its asset base,” said chairman John Rennocks in a statement.
The Bluefield fund was launched in July last year following an initial public offering which raised gross proceeds of £130 million with a further £13 million raised in February this year through a tap issue.
Parent company Bluefield Partners was established in 2009 and currently advises on over 50 UK based solar assets that are agriculturally, commercially or industrially situated.
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