Thursday 30 May 2013

New solar investment fund seeks to raise £150m

A UK investor group focused on buying solar projects is looking to raise £150 million by launching a new investment fund on the London Stock Exchange.

Bluefield Partners announced its plans to launch an initial public offering (IPO) of shares this summer through its Solar Income Fund.

The fund will focus on large-scale agricultural and industrial solar assets and aims to provide “long-term stable distributions” to its investors.

John Rennocks, the proposed Non-Executive Chairman of the Fund said: “Solar energy should play an important part in the UK’s energy mix going forward. The predictable, long term revenue characteristics of solar power supported by regulated subsidy offer an attractive way for investors to not only generate an attractive yield but also support the deployment of more environmentally friendly energy sources – a win/win for investors and the environment.”

Earlier this year an investment fund focused on buying wind farms in the UK raised more than its original target and new research predicted renewables investment could jump 230% over the next two decades.