Bluefield Solar Income Fund Update

Bluefield Solar Income Fund (BSIF, 132.75p), one of our ISA selections for the year, has announced a batch of significant news items. The trust has acquired a large UK portfolio of 15 solar assets and four wind assets for £112.4m, and announced a new equity-raising at 130p per share, for an undefined amount of capital. The money raised will be used to pay down its £200m revolving credit facility, which is currently fully drawn, and to provide additional capital resources for the trust’s pipeline of further opportunities. The placing is due to close on May 25th, before the next newsletter, and seems a good entry point if you were thinking of buying. It is not clear at present whether private investors will be able to gain easy access through platform stockbrokers, but there is a small offer for subscription, so this may be possible.

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