Thursday 1 July 2021

Bluefield Solar acquires £60m wind portfolio

Bluefield Solar has acquired a portfolio of 109 onshore wind turbines from Arena Capital Partners for £60 million.

The total investment could increase to £95 million if Bluefield is able to repower 17 turbines that are located in Northern Ireland.

The total output from the 109 turbines, which are spread across the UK, is 12,590KW.

John Rennocks, Chairman of Bluefield Solar, said: "Following the mandate change approved in 2020, allowing the company to invest in wind and other renewable energy sources and a careful review of the best available opportunities, the board is pleased to announce the company's first investment in non-solar assets.

“We view the acquisition as highly complementary to the existing portfolio in respect of energy generation profile, geographic location and the high levels of regulated revenue are accretive to the company's dividend targets."