Bluefield Solar’s Acquisition of 46 Megawatt Solar Portfolio: A Step Towards a Greener Future

Bluefield Solar has recently acquired an operational solar portfolio from Fengate Asset Management, with a capacity of over 46 megawatts. The portfolio consists of two ground mounted solar photovoltaic farms; the 39.3 megawatt Raventhorpe plant located in Scunthorpe, Lincolnshire and the 7.1 megawatt Roanhead facility located in Barrow-in-Furness, Cumbria.

The enterprise value of the portfolio is £56 million, which includes all cashflows from May 2022. Both sites are accredited under the Renewable Obligation Certificate (ROC) regime with a tariff of 1.4 ROCs. It is estimated that between 2022 and 2035, approximately 60% of revenues will come from contracted and regulated sources.

With this acquisition, Bluefield Solar’s total installed capacity has grown to 813 megawatts. John Scott, Chairman of Bluefield Solar said: “We are pleased to have acquired this high-quality portfolio of operating assets from Fengate Asset Management. This portfolio contains a large proportion of contracted and regulated revenues which adds to our existing development pipeline for new build solar and storage projects.“

Summary

• Bluefield Solar has acquired an operational solar portfolio with a capacity of over 46MW.
• The enterprise value of the portfolio is £56m, including the economic benefit of all cashflows from May 2022.
• In the period 2022 to 2035, the proportion of contracted and regulated revenues from the portfolio is projected to be approximately 60%.

What is the total installed capacity of Bluefield Solar following the acquisition?

Following the acquisition, the total installed capacity of Bluefield Solar’s portfolio is 813MWp./n
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Picture source: Ronnie George