Bluefield Solar has acquired the development rights for a 20MW battery storage project in the UK’s north-west region.
The acquisition represents the development rights, grid connection costs and the leasehold of land of a ready to build 20MW battery storage project for approximately £1.5m from Shaw-Energi Ltd.
The project is based in Liverpool and construction is expected to begin during 2022.
Bluefield also announced a first interim dividend of 2.03 pence per ordinary share, compared with 2 pence in 2021, payable to shareholders on the register as at 11 February 2022, with an associated ex-dividend date of 10 February 2022 and a payment date on or around 10 March 2022.
Furthermore, Bluefield’s board also reaffirmed its guidance of a full year dividend of 8.12 pence per ordinary share for the financial year ending 30 June 2022, compared to 8 pence in 2021.
This is expected to be covered by earnings and be post debt amortisation.
John Rennocks, chairman of Bluefield Solar, said: “We are pleased to reaffirm our dividend guidance of 8.12 pence per Ordinary Share for the financial year ending 30 June 2022 and importantly, this dividend is also expected to be fully covered by the Company’s earnings.
“We are also pleased to announce the Company’s second battery storage acquisition and the first such asset not co-located to a solar project.
“Energy storage has enormous growth potential in the UK and offers an exceptionally attractive additional revenue stream, diversifying the Company’s income from our majority solar portfolio with its predictable regulated revenue profile.”