Bluefield Solar Income Share Discussion Threads

[oilyrag] 08/5/2015 11:38

Its not really a concern but I am supprised how much this is under the radar, especially when you consider the green side of things in the current climate.

[oilyrag] 08/5/2015 11:36

I stumbled across this stock whilst doing my annual toplists dividend yield searches.

I like what I see. I fully concur with jonwig about continued re-investment in the portfolio to prolong the life expectancy of the stock.

That said a 7p divi in its second year of trading is quite remarkable. This being hedged against the RPI and should increase year on year.

So a possible minimum return on a 20 year life expectancy of current assets could yield, 140pence return before index linking, with everything else thrown in for free.

[jonwig] 18/11/2014 12:01

Comment from i i i , looks fair, though I'd need to check on the wind-down comments, and if they are going to continue raising capital, I'd want a slice:

Bluefield Solar Income has forecast a dividend of 7p for the year to end June 2015, indicating a yield of 6.8% paid semi-annually at the current share price.

Two thirds of its revenue derives from government-backed renewable energy obligation certificates and feed-in tariffs, both of which are linked to the Retail Prices Index (RPI).

The rest derives from electricity prices, which the managers expect to rise broadly in line with inflation. On this basis, the dividend is predicted to rise in line with RPI, making it very attractive.

Launched in July 2013, the Guernsey-based fund has a portfolio of 12 large-scale solar energy projects on greenfield sites across southern England and Wales. All but one are operational.

It only invests in projects that have the requisite planning permission and grid connections in place, but will also commit at the pre-operational stage. This allows it to achieve better terms, oversee the quality of installation, and secure greater contractor liability for any problems.

Bluefield Solar is managed by Bluefield Partners, which has a good track record in the solar sector. To minimise risks, Bluefield works with a variety of contractors using equipment from a range of manufacturers, and has started to diversify into ground-based industrial and commercial solar energy by buying a portfolio of established plants.

Its projects all have 20- to 25-year contracts, and the outlook for solar is arguably better than for wind generation as it is less environmentally contentious and the output from irradiation is less variable.

Growth in Bluefield Solar's net asset value (NAV) per share is likely to be limited and plans to nearly double the company's issued capital over the next year or so - in order to fund further diversification - seem likely to limit any increase in the modest premium.

More importantly, dividends from the current portfolio will tail off in around 20 years, and the projects may have negligible residual value. So unless the managers keep adding to the portfolio on attractive terms, investors are effectively buying a 20-year index-linked annuity.

However, the NAV per share, like the yield, should be unaffected by short-term gyrations in the stock market, making the shares a high-yielding refuge from a potential bear market.

ii.co.uk/articles/205870/focus-three-specialist-investment-trusts

(Close up the space)

[wirralowl] 03/11/2014 09:37

Doubt I'll be eligible either, jonwig, but like you, pretty pleased with progress being made here, in terms of their investments, the growing NAV and dividends.

A reasonable gesture too, to have brought forward the next dividend by way of compensation for those shareholders not eligible to participate in the placement (and hot on the heels of the 2p payment just made on Friday).

[jonwig] 03/11/2014 09:20

Yes, very much in-line, and the cost (about £1.1m per MwP) is in line with current prices.

I suppose I could apply for an allocation, but I imagine the minimum amount will be well outside my pay grade!

[wirralowl] 03/11/2014 09:13

Placing at 102.5p and declaration of another increased dividend of 3.25p; still on course for 7p pa dividend, growing with inflation. Full details below:

[jonwig] 03/4/2014 08:40

"Five Plants become Operational"

Includes -

The Company can confirm that it expects to deliver against its target dividend of 4 pence per ordinary share in relation to the first financial year ending 30 June 2014, and 7 pence per ordinary share in respect of the Company's second financial year, with the intention of this rising annually with RPI thereafter.

[jonwig] 24/2/2014 07:37

13,028,999 shares placed at 101p. Exactly what they said they wanted. So, thankfully, the demand is there.

[hindsight] 10/10/2013 13:24

Anyone have any views on the foresight solar float ?
Not too keen on way they have geared up the VCT , good for thier fees but increses investor risk

[stockologist] 07/9/2013 14:49

hope this is of interest

potential 40% improvement in solar or wind power generators profitablity

Could REDT's Vanadium Redox Batteries be the 'holy grail' energy storage technology for

Wind and Solar power generators / Utilities


REDT is a JV investment by AIM-listed Camco Clean Energy (CCE)
CCE has a Market Cap of £7m. Net Cash is £7m. PPE is £16m.
REDT is a 'hidden asset' within CCE.

REDT are working with SSE (Scottish & Southern Energy - a �15 billion company)

And DECC (Department of Energy and Climate Change) are showing interest in Vanadium Flow Tech...

"...vanadium redox flow battery storage system developer REDT. Company co-founder, Sir John Samuel, discussed some performance data from an off-grid pilot for a 30 kWh installation of REDT�s technology at a remote base transceiver station (BTS). The company is in the process of developing a utility-scale stack in preparation for a project with UK utility SSE. REDT is getting ready to ride the wave of an ambitious renewables expansion in Scotland, where remote areas in the highlands and islands are limited by a weak grid. In a design study for DECC the company has shown that flow battery energy storage enables around 30% enhanced wind or solar generation productivity in a typical island site."

[jonwig] 05/9/2013 07:06

Foresight Solar Fund intention to float:



Up to £200m with 6p dividend, inflation-linked.

[wirralowl] 14/8/2013 21:27

Bought some of these this morning (showed as a sell) along with some TRIG.

[jonwig] 12/7/2013 09:59

Can't deal online with TDW (yet) and aren't willing to pay 104p plus phone commission.

EDIT: Mon 15th - can now.

[jonwig] 12/7/2013 07:11

Reflecting strong investor demand, including a cornerstone investment from CCLA Investment Management Limited, the Fund has placed 130 million shares, conditional on Admission, at an issue price of 100 pence per Ordinary Share, raising gross proceeds of £130 million, significantly exceeding the minimum target fund raise of £75m.