Bluefield Solar has acquired an operational solar portfolio from Fengate Asset Management with a capacity of over 46MW.
The portfolio consists of two ground mounted solar photovoltaic farms, the 39.3 MWp Raventhorpe plant located in Scunthorpe, Lincolnshire and the 7.1MWp Roanhead facility located in Barrow-in-Furness, Cumbria.
The enterprise value of the portfolio is £56m, including the economic benefit of all cashflows from May 2022. Both solar sites are accredited under the Renewable Obligation Certificate (ROC) regime with a tariff of 1.4 ROCs.
In the period 2022 to 2035, the proportion of contracted and regulated revenues from the portfolio is projected to be approximately 60%.
Following the acquisition, the total installed capacity of Bluefield’s portfolio has grown to 813MWp.
John Scott, Chairman of Bluefield Solar, said: “We are delighted to have acquired this high-quality portfolio of operating assets from Fengate Asset Management. The portfolio includes a high proportion of contracted and regulated revenues, and so represents a natural complement to the company’s significant development pipeline of new build solar and storage projects.”