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Solarcentury's Solar Park Acquired by Bluefield Solar Income Fund

Published on 9 Sep 2013
Sept. 4, 2013 - An agricultural site housing a solar park located near Hardingham, Norfolk and constructed and developed by Solarcentury has been acquired by Bluefield Solar Income Fund Limited for £17 million. For an initial period, Solarcentury will be responsible for the parks operations, and in a separate agreement will oversee the ongoing operation and maintenance of the park.

The investment has been made without debt financing. The park is expected to start generating energy in December 2013.

Mike Rand, managing partner at Bluefield Partners LLP, BSIF's Investment Adviser, said "The project was selected by Bluefield due to the exceptional track record of Solarcentury as a leader in the UK solar market. The project represents a first step in a growing partnership with the contractor."

Frans van den Heuvel, CEO of Solarcentury, said "Solarcentury has been one of the leading solar contractors in the UK for a number of years. We are delighted, therefore, with the relationship with BSIF, which has taken a pre-eminent position in the UK solar market by being the first institutionally backed solar-focused fund. We hope this will be first of a number of large scale acquisitions of Solarcentury built plants by BSIF."

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