Share Name Share Symbol Market Type Share ISIN Share Description
Bluefield Solar Income Fund LSE:BSIF London Ordinary Share GG00BB0RDB98 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.50p +0.42% 119.50p 119.50p 119.50p 119.50p 118.50p 118.50p 120,045 16:05:32
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.6 64.0 18.3 6.5 441.92

Bluefield Solar Share Discussion Threads

Showing 101 to 124 of 125 messages
Chat Pages: 5  4  3  2  1
DateSubjectAuthorDiscuss
31/7/2018
16:44
BTW the dividend announcement was rather nice, but why does the share price always retreat on this type of announcement - I understand this is all shares not just BSIF
zero the hero
31/7/2018
16:42
Isn't BSIF involved with a different British Battery manufacturer, I did research this a while ago, but my memory is failing me
zero the hero
26/7/2018
09:42
Agreed, . Have you seen the REDT announcement this morning? Huge battery installations in Germany - now all we need is for FSFL and BSIF and NESF to take them up as well. UKW ad TRIG would also benefit as would for example VEN and VEN2. I tend to hold a mixture of these and trade between them when one looks overvalued so I am out of BSIF at the moment. Did buy them first when they were yielding about 8% but have dipped in and out - which was easier to do when their dividends were very lumpy as their price yo-yoed more then. JLEN are buying assets from John Laing so they almost bound to overpay - but I do like their diversity of asset.
a0002577
26/7/2018
08:36
And thanks for the usefull table above, its very helpfull. I'm a beliver in following Warren Buffet's principles when investing - do your research, identify an undervalued company, buy low and hold for years. Buy and hold! BSIF has the highest premium because it has the best rate of return on capital employed (RORC). A couple of years ago you could have bought them for 95p on a yeild of nearly 9%. Many investment advisors have been recommending green infrastructure funds like BSIF to their clients because of the rising government guaranteed inflation proof returns. JLEN has the lowest RORC because the management overpay for their assets and invest in obscure technologies like biogas and waste water. I believe the industry calls them "bond proxies". One day I think FSFL and BSIF will merge, or one will buy the other - so I hold all three, JLEN, BSIF and FSFL. I'm getting a rising income with some capital gains, whats not to like?
tartshagger
25/7/2018
09:48
Well, TartShagger, thanks for the confirmation on the sunlight and well done for pointing out REDT. Their battery technology is really interesting and the gov't thinks so as well as they have just had a big grant to develop it further. Also coming up shortly are large improvements to the output of solar panels - when this happens batteries will be even more important as those that have them will be able use what grid capacity they have for longer in each day. Massively increasing revenue from a site. Not sure that BSIF is the best investment here though at the moment. My current favourite for pure solar is FSFL.
a0002577
24/7/2018
16:18
I have a 3.5kW solar panel system on my S facing roof which was installed 4 years ago. I'm getting 12% pa return on the FITS and it goes up each year with inflation. You are however correct, I got £20 less on the spring quarterly payment because of cloudy weather and snow on the panels in the winter. BSIF premium is related to the inflation-proof rising income, the high RORC and the excellent management. Industrial scale solar farms are really cheap to install now, using high-efficiency Chinese panels and inverters even without the subsidy. What would make a big difference to BSIF would be if they added grid-scale battery systems to each farm - currently Tesla-type lithium batteries are being installed on Australian solar and wind farms also one or two here in the UK A better solution for the UK would be the UK developed vanadium flow battery systems now being offered by RED and already being installed in S Africa. Their Gen3 product is excellent and BSIF really should be talking to them
tartshagger
24/7/2018
12:11
We have short memories, stevegrass777, As I remember it, April, May, June and early July were quite cloudy and they should be peak months. Even this week there is cloud cover along the east coast. We are on the downward slide from here on towards midwinter. that's why we need a spread of locations.
a0002577
24/7/2018
11:35
But how much money have these solar panels been kicking out in this nice weather, it must be way more than usual, so maybe the price reflects the pure solar play and the heat wave.
stevegrass777
24/7/2018
10:41
There are some other factors, Gateside, which affect the value to the investor of these assets. These are often quite well buried deep in the financials. They are: Discount Rate used - sometimes in two parts, one for individual asset debt and the other for debt at listed company level. It can also vary with Asset Class. A change in assumptions here can have a huge effect on NAV. Lowering the discount rate increases the NAV. The actual figure used is a little subjective and therefore open to interpretation by the board and/or manager. Some use WACC instead of Discount Rate and some use a mixture. The cost of Borrowing. The lower the better - obviously - but some is RPI linked and others not. There tends to be higher rates for individual asset based loans than at company level. Also makes a difference if it amortises over the course of the loan. And of course if it is paid off well before the asset and subsidy life. In the period between paying off the debt and the end of the subsidy, a wall of money will hit the company and can be used to pay dividends of re-power the asset. Gearing the amount of debt. At the moment debt is cheap - ridiculously so. The TER, the managers fees (and incentive payments) can have a substantial effect over time. The type of landlease held is also important, is it renewable being one of the most important factors as is the ownership of the actual grid connection. Spread of asset types and locations are also important. I will try to get at least some of these figures together in the next month or two and will share them when I have done it. Really wish there was some standard here as it would make comparison easier
a0002577
23/7/2018
16:34
Great post. Very useful.Agree that BSIF looks a bit overvalued at present.
gateside
23/7/2018
14:36
This table shows the six major 'Green' infrastructure funds Stock Bid Offer DIVIDEND Yld BID Yld/OFFer NAV Discount(-)orPremium (+) BSIF 121.50 122.50 7.43 6.12% 6.07% 112.81 8.59% JLEN 104.00 105.00 6.51 6.26% 6.20% 99.60 5.42% TRIG 109.20 109.40 6.50 5.95% 5.94% 103.60 5.60% FSFL 110.50 111.50 6.58 5.95% 5.90% 104.90 6.29% UKW 126.20 126.40 6.76 5.36% 5.35% 114.30 10.59% NESF 108.50 109.50 6.65 6.13% 6.07% 105.10 4.19% You can see that JLEN has the highest yield and the smallest premium to NAV and a more diverse portfolio. Historically BSIF has done well but my guess is that in the future JLEN and FSFL will do better - so that is where my money is going. I have been in and out of BSIF several times but at the moment it looks very fully valued
a0002577
21/7/2018
11:45
Not a lot to say until they do a deal or change assumptions for the valuation. Just accumulating dividends like all the other members - and I have mine on automatic reinvestment
18bt
21/7/2018
11:05
Nice quiet thread. BSIF has been slowly trending north - circa 9% up since I first bought in 7 months ago - plus an attractive yield (6.5%) paying 3.6p per share in 2 interim instalments during that period.
masurenguy
12/6/2018
16:27
Steady progress over the past 9 months with the shareprice gradually increasing at an average rate of 1% per month plus an increasing yield, which is still available at 6% to new investors at the current Offer price of 120p.
masurenguy
30/4/2018
16:07
So, up a fraction and no worries, as it should be. Noted that FSFL lost a penny off of its nav and made comments re its debt. https://www.investegate.co.uk/foresight-slr-fnd-ld--fsfl-/rns/net-asset-value-and-dividend-announcement/201804300700144769M/
rambutan2
30/4/2018
08:02
"The Company's NAV at 31 March 2018 was £417m, or 112.81p per Ordinary Share"
masurenguy
07/3/2018
12:26
Well, 18BT, I agree. If subsidy free Solar Farms become viable then BSIF, FSFL, and others have a head start. They have sites with a grid connections and they have lots & lots of cabling and frames and roadways and buildings etc - and local relationships with the landowner and the planning authorities. In other words a terrific launchpad for the future. On batteries and time shifting excess energy. The grid is trying to get as many battery installations as possible to make grid management easier. The government wants to see this as well. Have a look here https://uk.advfn.com/stock-market/london/redt-energy-RED/share-news/RedT-Energy-Says-South-African-Mini-Grid-Project-N/76862477 and here https://uk.advfn.com/stock-market/london/redt-energy-RED/share-news/RedT-Energy-PLC-Award-of-750-000-funding-grant-by/76832797
a0002577
06/3/2018
16:26
That's a good summary. One point missing is that there's an assumption that the terminal value is nil. There's a good chance by then that non-subsidy will be profitable and/or that plant lives can be extended. The sites are connected in the right way, some of them could also have battery storage co-located, when that becomes viable, so there may be some Residual Value, not currently factored into NAV.
18bt
27/2/2018
07:22
Seems as solid as ever. Trading close to NAV, so not much downside unless interest rates really spike
18bt
27/2/2018
07:09
Solid results, consistent dividend, yield of 6.4% at the current shareprice - strong income hold for me! Bluefield Solar Income Fund Limited 27 February 2018 Unaudited Condensed Interim Financial Statements for the Six Months Ended 31 December 2017 Bluefield Solar (LON:BSIF), a sterling income fund that invests in UK-based solar assets, is pleased to announce its Interim Results for the Six Months Ended 31 December 2017. Operational Highlights § The Company delivered underlying earnings1 of £13.0m in the period (31 December 2016: £11.7m). § NAV has increased to 112.40pps (30 June 2017: 110.49pps). § There has been a 0.25% reduction to the Company's WACC, reflecting continued pricing pressure within the UK solar market, from 6.15% as at 30 June 2017 to 5.90% as at 31 December 2017 § The equity cash flows upon which the NAV is calculated imply a return on equity over the 25 year life of the cash flows of 7.02% (30 June 2017: 7.43%), with zero terminal value. § The Company completed one acquisition amounting to 5.0MWp, taking the Company's total capacity to 446.5MWp. § Portfolio outperformed operational expectations by 2.7%, delivering an aggregate PR of 82.4% versus budget of 80.3%. § As at 31 December 2017 the Company has now paid dividends of 25.75pps since listing in July 2013; 4.00pps in the period to June 14 and then above target dividends of 7.25pps for the full year periods ended June 2015, 2016 and 2017. A further 1.80pps has been paid in January 2018; this declaration and payment of the first interim dividend in respect of the year ending 30 June 2018 reflects the Company's commitment to smoothing distributions. § The Company, through its holding company BSIFIL, has made debt repayments of principal of £7.3m in the period (31 December 2016: £2.7m). 1. Underlying earnings is an alternative performance measure employed by the Company to provide insight to the Shareholders by definitively linking the underlying financial performance of the operational projects to the dividends declared and paid by the Company. Further detail is provided below. Financial Highlights Six months ended :31 December 2017 Total operating income: £18,747,444 Total comprehensive income before tax: £18,137,352 Underlying earnings: £12,989,966 Earnings per share: 4.90p Underlying EPS available for distribution2: 1.54p Underlying EPS brought forward3: 0.73p Total underlying EPS available for distribution: 2.27p Total dividend for the six months ended 31 December 2017: 1.80p NAV per share: 112.40p 2. Underlying EPS available for distribution is calculated using underlying earnings available for distribution (eg post debt repayments) divided by the number of shares in issue at the end of the period. 3. Underlying earnings brought forward is a combination of 0.30p brought forward from 30 June 2017 and additional ROC recycle relating to the year ended 30 June 2017 of 0.43p. 4. Dividends declared in January 2018 relating to the period 31 December 2017. 5. Total Return is based on NAV per share movement and dividends paid in the period. 6. Total Return to shareholders is based on share price movement and dividends paid in the period. Chairman John Rennocks said: "It has been another robust six months for the Company in which, although a period in which irradiation levels were significantly below our expectations, the portfolio has continued to perform well and remains on track to meet its full year target dividend of 7.43 pence per share. Our priority still lies in maximising revenues and income efficiency from our existing portfolio. This has been possible through strong operational management from Bluefield Services, the Company's technical asset manager, who spent approximately 2,700 hours analysing plant performance during the period. Against a backdrop of soft power prices, we continue to seek to further enhance revenues from the portfolio to deliver reliable sterling income for our shareholders."
masurenguy
09/1/2018
07:34
Nice work if you can get it! 72,249 new shares not exactly busting the bank
zero the hero
08/1/2018
07:57
Dividend increased by 3.1%. Current projected yield is 6.3%. RNS Number : 1548B Bluefield Solar Income Fund Limited 08 January 2018 First Interim Dividend Announcement for the financial year ending 30 June 2018 The First Interim Dividend of 1.80 pence per Ordinary Share will be payable to Shareholders on the register as at 19 January 2018 with an associated ex-dividend date of 18 January 2018 and a payment date of 9 February 2018. In the absence of further share issuances, the Company aims to pay broadly equal dividends on a quarterly basis. Hitherto, the Company's pattern of dividend payments has tended to reflect the seasonality of solar power generation. Bluefield Solar and its Board of Directors set dividend targets which are intended to grow in line with the RPI using the 2014/15 financial year dividends of 7p per share as a base. The target dividends arising out of the financial year ending 30 June 2017 were 7.18p per Ordinary Share, and this target will rise to 7.4p per Ordinary Share for the financial year ending 30 June 2018. In respect of the past 3 financial years, the Company has paid dividends which have exceeded the target levels.
masurenguy
16/11/2017
10:16
My understanding of yesterdays RNS concerning BlackRock's holding is that they are stock lending 651,084 shares to another financial institution that will then sell them short in the belief the price is going to fall. BlackRock still hold 18,353,283 shares so this action does not denominate a loss of confidence in BSIF but simply a opportunity to make some money through stock lending. Is my understanding correct?
macc2
15/11/2017
09:59
Current premium over NAV is therefore 4.8% at todays shareprice. 15 November 2017 Bluefield Solar Income Fund Limited Unaudited NAV 30 September 2017 The Company's NAV at 30 September 2017 was £398.9m, or 107.85 pence per Ordinary Share, compared to the NAV at 30 June 2017 of £409m, or 110.49 pence per Ordinary Share. The change in NAV is due to the adoption of the most recent power curves, released between July and September, from the Company's two independent power forecasters, which have been blended on a 50/50 basis. All other core assumptions remain consistent with those supporting the NAV issued in the Company's audited financial statements for the period ending 30 June 2017.
masurenguy
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