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Announced

Bluefield Solar to acquire 15 solar assets from Green Power Partners for £110m.

Financials

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Transaction Value£110m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private Equity

solar energy farm

Majority

Pending

United Kingdom

Renewable Energy Equipment

Friendly

Cross Border

solar assets

Acquisition

Private

Single Bidder

Synopsis

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Bluefield Solar Income Fund, a UK-focused income fund, agreed to acquire 15 solar assets from Green Power Partners, an energy company, for £110m. "This is an excellent acquisition by the Company. It not only combines the addition of a portfolio of high ROC banded assets with bespoke low cost financing, but also enables the Company to move its level of gearing in line with the Board's target. This acquisition will be immediately incremental to earnings and further underpins our projected results and dividends for the current financial year ending in June 2021 and beyond. The Board and our Advisor continue to carefully assess a strong pipeline of opportunities across both primary and secondary markets," John Rennocks, Bluefield Solar Chairman.

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