Bluefield Solar's NAV climbs 2.5% in H1 FY 2019

UK solar park. Author: Robert Pittman. License: Creative Commons, Attribution-NoDerivs 2.0 Generic

February 25 (Renewables Now) - Bluefield Solar Income Fund Ltd (LON:BSIF) on Tuesday reported a net asset value (NAV) of GBP 447.4m (USD 580.1m/EUR 535.3m) for the six months to the end of December, up 2.5% from the level at the end of June.

NAV per share was GBP 1.2075 at the end of the period, up from GBP 1.1798 previously, while the total NAV return was 6.17% at end-December.

The fund, which invests in UK solar assets, ended the period with a portfolio capacity of 465.3 MWp, including 46 large-scale facilities, 39 micro sites and two rooftop systems.

Irradiation levels during the period were 4.6% higher than expectation  which resulted in yield outperformance of 4.2%. Total generation was 2.13 GWh in the six months, compared with a guidance of 2.05 GWh for the period.

The company's strategy remains to increase the value of the portfolio while also looking for opportunities to expand, chairman John Rennocks said.

(GBP 1.0 = USD 1.296/EUR 1.196)

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Before joining Renewables Now, Alex was a UK-focused business news reporter. Now she is covering global news from the renewable energy industry with a special interest in M&A.

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