UK-listed Bluefield Solar Income Fund has made its 29th acquisition with an agreement to purchase a 49.9-megawatt solar project in Norfolk for £56.5 million (US$84 million).
The price includes a bridging facility, working capital and expenses. The project was acquired from China’s Trina Solar Ltd. It was built by Maessa Telecomunicaciones, Ingenieria, Instalaciones y Servicios, S.A.
The project is also being part funded by a Royal Bank of Scotland’s £50 million revolving credit facility to a value of £20 million. The acquisition completes the deployment of the £131 million placing programme by the company that closed in November 2014.
Bluefield’s portfolio now has a combined energy capacity of 250MW.