Bluefield Solar Income Share Discussion Threads

[2naive] 16/9/2021 11:57

Aren't the two examples the same scenario though, just different players and figures?

Tesla Power Wall. Ave price = £5/mwh. Peak price = £7/mwh. A 40% premium.

BSIF. Ave price = £40/mwh. Peak price = £2500/mwh. A 6000% premium, although this was a particularly dramatic occurrence.

[18bt] 16/9/2021 11:53

Zero - yes I have similar figures for domestic solar, but the amounts are constrained by local power infrastructure. Solar farms should be much more responsive to demand shortfall, so should be much higher. But it requires sophisticated response systems on top of the battery cost. And the other key thing is how long the batteries last/remain efficient.

[zero the hero] 16/9/2021 11:33

Thanks for the reply 2naive but not really - it is certainly my fault not making myself clear, sorry.

A further example is that the price a power company will pay a homeowner for excess power generated by home solar panels is on average £5/mwh and if that same customer has a Tesla powerwall (for example) and discharged between 5 and 7 in the evening this rises to £7/mwh. I would go onto suggest companies like BSIF get paid substantially more but what are the two sets of figures. I wonder if the margin difference between the two verses the cost of Battery installation is sufficient to make it economically viable over a number of years.

[2naive] 16/9/2021 11:20

Hi Zero the Hero. From an article in yesterday's Guardian:

"Coal plants being warmed up as market prices surge to £2,500 per MWh from a norm of £40"

So average price is £40/mwh, hitting £2500/mwh for a short period on Wed. Does that answer your query?

[zero the hero] 16/9/2021 10:46

Sorry I did not explain what I meant very clearly.

The amount a solar farm gets paid to feed into the grid at the time of generation is £xx. If they hold onto that same power via Battery storage and release when needed they can get paid a premium, but I wonder how much more? The lack of battery storage installed across Solar Farms suggests the margin is too slim. From memory a 1 MWh storage unit is about £40k to purchase outright (yes I know there are Vanadium rental options)

11_percent, agreed Green Hydrogen is inefficient but is it more margin efficient over Battery storage?

[11_percent] 15/9/2021 10:20

Yup.....pries are going up.....they have closed the coal fired power stations and there is nothing to replace them.

[2naive] 15/9/2021 10:14

"I'd love to know what the Power companies pay for feeding to the grid verses storage and feed when required."

You mean how much is peak power worth? From the Guardian yesterday:

"The price of electricity during Tuesday evening’s peak power demand hours has reached a new record of £1,750 a MWh, more than 2,900% higher than the average price over the last decade, according to Bloomberg data."

[11_percent] 15/9/2021 10:06

I don't see why the battery option could not be effective.
The size of the battery/batteries should not be a problem as it is with EVs.
Just build a large building/warehouse to house conventional batteries.


Green hydrogen is not good. It is very inefficient to convert the electricity to hydrogen.
It would make the green hydrogen very expensive.

[zero the hero] 15/9/2021 09:11

18BT16 Aug '21 - 377

Is there enough of a financial incentive to install Battery? I'd love to know what the Power companies pay for feeding to the grid verses storage and feed when required. Does it compete economically with conversion to Green Hydrogen ignoring the grid entirely? Either of these options could be viable if the margin is there.

[11_percent] 08/9/2021 09:44

Making heavy weather of 125.

[11_percent] 01/9/2021 11:44

Hitting resistance at 125.....will go through it....come back to test it s support and then carry on up.

[11_percent] 01/9/2021 09:07

Hitting resistance at 125.....will go through it....come back to test it s support and then carry on up.

[11_percent] 31/8/2021 08:43

Graph looking good.

SP bottomed and moving up.....gone through (above) the 50 day and 100 day and looking to go through the 200 dy.

However....RSI = 70.....so may take a breather before taking out the 200 day.

Premium to NAV coming into line with Peers......but still a good yield compared with TRIG.

Now then.....do I hold for the ex divi date start of Oct....or take my profit and run.

[18bt] 16/8/2021 07:30

I feel the ability for incremental battery storage at wind farms and solar has been overlooked. Yes, it will heavily depend on the grid infrastructure at each site and planning permission, but it is these sort of incremental investments which are needed to give the grid a chance of keeping load balanced as coal and nuclear is switched off.

[masurenguy] 16/8/2021 07:04

16 August.
Completion of First Wind and Battery Storage Investments

Bluefield Solar (LON: BSIF), the UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to provide growing dividends for its shareholders whilst furthering the decarbonisation of the energy system , is pleased to announce the successful completion of two acquisitions.

The Acquisitions

The first acquisition is the purchase of an operating portfolio of 109 small scale onshore wind turbines, as outlined in the Company's recent prospectus, for approximately GBP63 million (including working capital and transaction fees) and is immediately earnings accretive.

The second acquisition represents the grid connection and associated land of a fully consented, ready to build a 45MWp solar asset and co-located 25MWp battery project for approximately GBP5 million from EQUANS (re-branded from ENGIE Renewables). This co-located project is based in northeast Lincolnshire and is expected to begin construction during 2022. Yelvertoft, a 50MWp solar project developed through the Company's proprietary pipeline and announced in the Company's 31 December 2020 Interim Statements, is expected to begin construction at the same time.

Financial Update

Prior to the recent fundraise of GBP103 million (net of costs) the Company had drawn GBP90 million of its GBP100 million short term revolving credit facility ('RCF'). The fundraise proceeds were used to pay down the RCF entirely, leaving GBP13 million available to the Company in cash resources in addition to the then undrawn GBP100 million RCF. These acquisitions, plus development expenditure incurred to date of approximately GBP3 million, mean the Company has now redrawn approximately GBP60 million of its RCF. As a result, total outstanding debt is approximately GBP340 million. Using the Company's 31 March 2021 unaudited net asset value ('NAV') of GBP460.5 million as a reference and including these acquisitions as well as the Company's equity raise in July 2021 of GBP103 million (net of costs), the leverage of the Company is approximately 38% of Gross Asset Value ('GAV').

John Rennocks, Chairman of Bluefield Solar, said: "Following strong support from our shareholders in the recent oversubscribed equity raise, we are delighted to have completed the acquisition of the 109 wind turbines outlined in the Company's recent prospectus, as well as our first co-located solar and energy storage project. Both investments mark important steps in fulfilling Bluefield Solar Income Fund's strategic objective of adding complementary renewable assets, up to 25% of GAV, to its high performing UK solar portfolio. The 109 wind turbines are immediately accretive to earnings and further underpin our projected results and dividends for the financial year ending in June 2021 and beyond, with exceptionally high levels of regulated revenues. This is our first investment in energy storage and the Board views this as an attractive source of diversification for our income, with significant future valuation uplift potential from adding solar and storage assets in development. The Board and our Investment Adviser continue to carefully assess a strong pipeline of attractive opportunities across both primary and secondary markets."

[masurenguy] 10/8/2021 07:26

I see that Jon Moulton, former founder and CEO of the private equity firm Alchemy, has invested £250,000 to became a shareholder in the July placing by acquiring 211,864 shares @£1.18p.

[tartshagger] 09/8/2021 10:52

It is encouraging to see another director (Francesco Giradi) continuing to build a position in the company with a £20k purchase @ the offer price of £1.18.It should be even more encouraging if James Armstrong dipped his toe in again. With the divi at ~ 6.6% and electricity prices rising for consumers, this looks cheap. "V" bottom anybody?

[masurenguy] 21/7/2021 07:04

Result of the Initial Placing, Open Offer and Offer for Subscription (the "Initial Issue")

"Oversubscribed fundraise of £105.1m with strong demand from new and existing investors"

Further to the announcement dated 29 June 2021 the Board of Bluefield Solar Income Fund Limited ("Bluefield Solar" or the "Company") is pleased to announce the successful issue of New Ordinary Shares. Commitments for 89,067,980 New Ordinary Shares were received under the Initial Issue. As this exceeds the target size for the Initial Issue (as set out in the Prospectus) the Directors have exercised their discretion and have increased the size of the Initial Issue so that all commitments will be satisfied in full. Accordingly, a total of 89,067,980 million New Ordinary Shares will be issued, subject to Admission (as defined below) and on the other terms and conditions set out in the Prospectus dated 29 June 2021, at a price of 118p per New Ordinary Share, raising gross proceeds of approximately £105.1m. The New Ordinary Shares represent approximately 21.9% of the issued Ordinary Share capital of the Company prior to the Initial Issue.

[cwa1] 15/7/2021 08:31

XD day today, pay day 4/8

[cottlet] 07/7/2021 19:15

Says. Error 404

[panshanger1] 07/7/2021 10:45

6.7 % yield and premium at the low end of its range minded to top up myself

[cwa1] 07/7/2021 10:20

I've taken a small holding at 119.5p here, mainly based on yield but like the sector too. Good fortune one and all

[cwa1] 07/7/2021 09:54

The Third Interim Dividend of 2.00 pence per Ordinary Share (July 2020: 1.95 pence per Ordinary Share) will be payable to Shareholders on the register as at 16 July 2021, with an associated ex-dividend date of 15 July 2021and a payment date of 4 August 2021.

Furthermore, the Board is pleased to reconfirm its guidance of a full year dividend of 8.00 pence per Ordinary Share for the financial year ending 30 June 2021 (2020: 7.90 pence). This is expected to be covered by earnings and is post debt amortisation.