Bluefield Solar Income Fund Limited

Net Asset Value • Nov 17, 2021

National Storage Mechanism | Additional information

RNS Number : 6034S

Bluefield Solar Income Fund Limited

17 November 2021

	17 November 2021

Bluefield Solar Income Fund Limited

('Bluefield Solar' or the 'Company')

Unaudited NAV 30 September 2021

Bluefield Solar (LON: BSIF), a UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system, announces its net asset value ('NAV') as at 30 September 2021. Unless otherwise noted herein, the information provided in this announcement is unaudited.

The Company's NAV as at 30 September 2021 was £581.3 million, or 117.18 pence per Ordinary Share, compared to the NAV at 30 June 2021 of £471.4 million, or 115.83 pence per Ordinary Share. This equates to a movement of +1.35 pence per share and a NAV total return for the quarter of 1.2%.

The 30 September NAV is stated before deducting the FY2020/21 fourth Interim dividend of 2.00 pence per Ordinary share announced on 5 October 2021 and paid on 8 November 2021.

The Company's NAV as at 30 September 2021 reflects the adoption of the most recent power curves published by the Company's three independent power forecasters resulting in a positive impact on NAV for the quarter of approximately 1 penny per share. The remaining uplift of 0.35 pence per share is principally the result of recent PPA fixes and working capital movements over the quarter to 30 September 2021.

Following the broadening of the Company's investment mandate in July 2020 to permit the Company to make investments of up to 25% of Gross Asset Value into non solar renewable technologies, the 30 September 2021 NAV also includes the Company's maiden wind portfolio acquisition, as well as the ready to build 45MWp solar and 25MWp battery storage projects, both of which were completed by the Company in August 2021.

All other core valuation assumptions have remained consistent with the NAV issued in the Company's financial statements for the period ending 30 June 2021.

The first interim dividend for FY2021/22 will be declared in January 2022. Target dividends for FY2021/22 are 8.12 pence per Ordinary share.

- Ends -

For further information:

Bluefield Partners LLP (Company Investment Adviser) James Armstrong / Neil Wood / Giovanni Terranova	Tel: +44 (0) 20 7078 0020 www.bluefieldllp.com
Numis Securities Limited (Company Broker) Tod Davis / David Benda	Tel: +44 (0) 20 7260 1000 www.numis.com
Ocorian (Company Secretary & Administrator) Patrick Ogier	Tel: +44 (0) 1481 742 742 www.ocorian.com
Media enquiries: Buchanan (PR Adviser) Henry Harrison-Topham / Victoria Hayns / Henry Wilson	Tel: +44 (0) 20 7466 5000 www.buchanan.uk.com BSIF@buchanan.uk.com

Notes to Editors

About Bluefield Solar

Bluefield Solar is a UK income fund focused, primarily, on acquiring and managing UK-based solar projects to generate renewable energy for periods of typically 25 years or longer.  Not less than 75% of the Company's gross assets will be invested into UK solar assets.  The Company can also invest up to 25% of its gross assets into wind, hydro and storage technologies.  Its primary objective is to deliver to its shareholders stable, long term sterling income via quarterly dividends.  The majority of the Group's revenue streams are regulated and non-correlated to the UK energy market.  Bluefield Solar owns and operates one of the UK's largest, diversified portfolios of solar and wind assets with a combined installed power capacity in excess of 625 MWp.

Further information can be viewed at www.bluefieldsif.com

LEI Code 2138004ATNLYEQKY4B30

About Bluefield Partners LLP ('Bluefield')

Bluefield Partners was established in 2009 and is an investment adviser to companies and funds investing in renewable energy infrastructure.  It has a proven record in the selection, acquisition, and supervision of large-scale energy assets in the UK and Europe.  The team has been involved in over £4 billion renewable funds and/or transactions in both the UK and Europe since 2008, including over £1 billion in the UK since December 2011.

Bluefield Partners has led the acquisitions of, and currently advises on, over 200 solar PV and wind assets in the UK and Europe that are agriculturally, commercially, or industrially situated.  Based in its London office, it is supported by a dedicated and highly experienced team of investment, legal and portfolio executives.  Bluefield Partners was appointed Investment Adviser to Bluefield Solar in June 2013.

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