UK solar investment fund buys first project for £12m

A UK solar investment fund – newly listed on the London Stock Exchange – has bought its first plant in Oxfordshire for £12 million, according to reports. Located near Abingdon, […]

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By Priyanka Shrestha

A UK solar investment fund – newly listed on the London Stock Exchange – has bought its first plant in Oxfordshire for £12 million, according to reports.

Located near Abingdon, it is expected to start generating electricity in October this year and is being constructed for Bluefield Solar Income Fund (BSIF) by a Belgian contractor Ikaros Solar.

Under the terms of the contract, Ikaros will operate and maintain the plant and warrant it for an initial period.

The news comes after investor group Bluefield Partners announced it was looking to raise £150 million by launching a new solar investment fund earlier this year.

Giovanni Terranova, a partner at Bluefield Partners LLP and BSIF’s Investment Adviser said: “The transaction with Ikaros typifies the investment characteristics sought by the Fund: large-scale solar assets providing the opportunity for its investors to get long-term, stable and index-linked revenues, all underpinned by strong performance guarantees from a proven solar contractor.”