Bluefield Solar Income Share Discussion Threads

[gateside] 10/2/2022 09:12

Ex dividend this morning for 2.03p - hence the drop at the open

[masurenguy] 31/1/2022 07:24

First Interim Dividend Announcement

The First Interim Dividend of 2.03p will be payable to Shareholders on the register as at 11 February 2022 with an associated ex-dividend date of 10 February 2022 and a payment date on or around 10 March 2022. Furthermore, the Board is pleased to reaffirm its guidance of a full year dividend of 8.12p for the financial year ending 30 June 2022 (2021: 8.00p). This is expected to be covered by earnings and be post debt amortisation.

[18bt] 20/1/2022 07:52

Agreed. Any further acquisitions might need to be accompanied by a fund raising, but shows what can be done incrementally.

[masurenguy] 20/1/2022 07:33

Looks like a good acquisition to expand both solar and wind capacity.

[cwa1] 20/1/2022 07:33

Acquisition:-



John Rennocks, Chairman of Bluefield Solar, said:
"We are delighted to have acquired this high-quality portfolio of operating assets from Good Energy. Not only does this acquisition mark our second purchase of operational wind assets within the space of six months, but it also adds a very attractive portfolio of solar assets with a high proportion of regulated revenues to the Company's significant existing portfolio. Furthermore, the acquisition underpins the Board's confidence in delivering our FY 2021/22 target dividend of 8.12pps (FY 2020/21: 8.00pps). Finally, the Board and our Investment Adviser continue to carefully assess a strong pipeline of diverse opportunities across both primary and secondary markets."

[stevegrass777] 18/1/2022 11:52

Yes I think some go up with inflation and sone are market floating, so i suspect it will help a bit. Stronger electric prices should help with future contracts as well.

[tatie] 11/1/2022 14:49

More likely supply contracts linked to inflation.

[p1es] 11/1/2022 12:03

Will this benefit from the higher electricity prices?

[a0002577] 17/11/2021 11:43

Glad to see them diversifying but maybe buying AD plants would be a step too far as would some of the hydro projects available from the Ventus sale

Their skill set is in managing solar assets

[masurenguy] 17/11/2021 07:21

Unaudited NAV 30 September 2021

The Company's NAV as at 30 September 2021 was £581.3m, or 117.18p per Ordinary Share, compared to the NAV at 30 June 2021 of £471.4m, or 115.83p per Ordinary Share. This equates to a movement of +1.35p per share and a NAV total return for the quarter of 1.2%. The 30 September NAV is stated before deducting the FY2020/21 fourth Interim dividend of 2.00 pence per Ordinary share announced on 5 October 2021 and paid on 8 November 2021. The Company's NAV as at 30 September 2021 reflects the adoption of the most recent power curves published by the Company's three independent power forecasters resulting in a positive impact on NAV for the quarter of approximately 1p per share. The remaining uplift of 0.35p per share is principally the result of recent PPA fixes and working capital movements over the quarter to 30 September 2021.

Following the broadening of the Company's investment mandate in July 2020 to permit the Company to make investments of up to 25% of Gross Asset Value into non solar renewable technologies, the 30 September 2021 NAV also includes the Company's maiden wind portfolio acquisition, as well as the ready to build 45MWp solar and 25MWp battery storage projects, both of which were completed by the Company in August 2021. All other core valuation assumptions have remained consistent with the NAV issued in the Company's financial statements for the period ending 30 June 2021.

The first interim dividend for FY2021/22 will be declared in January 2022. Target dividends for FY2021/22 are 8.12p per Ordinary share.

[18bt] 02/11/2021 08:31

Agreed - reduced discount rate could be reflected here, but not very open as to why.

[masurenguy] 02/11/2021 07:57

Good Foresight Solar update this morning - could potentially read over to the BSIF shareprice.

[cwa1] 14/10/2021 08:05

XD for 2p today, pay day 8/11

[18bt] 11/10/2021 11:55

Finally caught up with the investor meet company presentation. Some points of emphasis made:
- all power sales are with investment grade counter parties
- the 88% fixed through PPAs and subsidy payments for year to June 22 is above previous forecast revenue assumptions
- there are 300mw of PPAs to be restructured this year at current prices that would be an uplift of £7 per MW
- good chart on the compression of discount rates in the sector over 7 years
- inflation increase in the valuation is 3% to 2025 (increased by one year); that feels fairly conservative in the current climate; sensitivity of valuation to inflation is c£14m for every 0.25%
- BSIF has the highest level of regulated assets in the sector
- they rate battery storage as the highest risk/reward of technologies in the renewable sector: they want double digit IRRs on developments

Broadly they emphasised all the reasons why we will invest in BSIF - the predictability of UK solar generation.

They did kindly answer my question about PPA strategy - broadly at any point in time they are 90% hedged. Forward contracts are 1-3 years; they have Winter and Summer prices.

[18bt] 05/10/2021 14:44

The statement is well worth a read on future electricity pricing, particularly on the reasons why the power curves decline post 2030. Suffice it to say,that I will buy on weakness as I see little chance that enough generation will be added in the UK by 2030 in the face of huge increases in demand so that prices start declining. In the short term that have commented about the short term Ppa pricing, but not much on the quantum of the contracts.

[11_percent] 05/10/2021 10:01

Ok....cheers.

[cwa1] 05/10/2021 09:58

Fourth Interim Dividend Announcement



Bluefield Solar (LON: BSIF), a UK income fund focused on acquiring and managing UK-based renewable energy and storage projects to generate stable, long term dividends for its shareholders whilst furthering the decarbonisation of the energy system, is pleased to announce the Company's fourth interim dividend for the financial year which ended on 30 June 2021 (the 'Fourth Interim Dividend').



The Fourth Interim Dividend of 2.00 pence per Ordinary Share (September 2020: 2.05 pence per Ordinary Share) will be payable to Shareholders on the register as at 15 October 2021, with an associated ex-dividend date of 14 October 2021and a payment date on or around 8 November 2021.



The Board is pleased to have declared full year dividends of 8 pence per Ordinary Share for the financial year ending 30 June 2021 compared to a full year dividend of 7.90 pence per Ordinary Share for the financial year ending 30 June 2020. These dividends are covered by earnings post debt amortisation.

[11_percent] 05/10/2021 09:58

Dividend: 8.0p / 7.90p

Ok divi increased.......can anyone see when it will be paid.

[masurenguy] 05/10/2021 07:38

Bluefield Solar (LON:BSIF), a UK focused income fund that invests primarily in UK-based solar assets, is pleased to announce its Annual Results for the Year Ended 30 June 2021.

Highlights
As at 30 June 2021 / 30 June 2020
NAV: 115.83p / 117.01p
Underlying Earnings PAD: £48.6m / £44.6m
Underlying Earnings PAD: 9.16p / 9.53p
Dividend: 8.0p / 7.90p

Results Summary: For the year ended 30 June 2021
Total operating income: GBP25,921,639
Total comprehensive income: GBP24,517,576
Total underlying earnings: GBP48,663,667
IFRS Earnings per share: 6.25p
Underlying EPS available for distribution: (inc brought forward reserves)(2) 11.09p
Total declared dividends per share for year: 8.00p Earnings per share carried forward (See below) 2.67p NAV per share: 15.83p

John Rennocks, Chairman of Bluefield Solar, said: "We are pleased with the strong earnings performance in the period despite covering a particularly challenging time for the energy markets due to the turbulence caused by Covid 19. We were pleased to deliver a sector leading dividend of 8p per share, post debt amortisation to shareholders while the NAV also held up well which we believe will support the share price going forward. The robust nature of the earnings from the portfolio during the pandemic highlights the durability and defensive nature of the Company's investment strategy. We look forward to updating the market on further attractive investment opportunities in due course."

[11_percent] 04/10/2021 10:29

All Britain’s electricity to be green by 2035

A lot of people are going to be shivering in the dark.

[masurenguy] 04/10/2021 08:22

All Britain’s electricity to be green by 2035

Boris Johnson will this week announce that all of Britain’s electricity will come from renewable sources by 2035 as he seeks to reduce the country’s dependence on gas and other fossil fuels. The prime minister will use his conference speech to commit his party to plans to hugely increase investment in renewable and nuclear energy as Britain faces a crisis caused by a surge in the cost of gas. He is expected to argue that taking all electricity from green sources would be a significant step towards the government’s ambition to hit net zero emissions by 2050, and reduce exposure to fluctuations in gas prices. Renewable energy generated 43% of Britain’s electricity needs last year, and gas, oil and coal contributed about 40%. The remaining capacity was filled by nuclear. Johnson has already pledged to increase Britain’s offshore wind production from 10GW of electricity a year — enough to supply 10m homes — to 40GW by the end of the decade. He wanted to “go further” and ultimately hit 60GW a year.

[masurenguy] 04/10/2021 07:55

Questor also noted that renewables contributed 42% of the UK’s electricity production in Q1 this year, which is likely to increase through further investment in the sector. ESG investment has doubled over the past year, which provides ongoing support to the BSIF share price and its current 10% premium to NAV. The relatively stable high dividend yield could prove attractive if inflation rises and interest rates remain low and therefore recommends BSIF as a Buy ahead of the results that are due tommorrow.

[cwa1] 04/10/2021 07:34

Just a small concluding snippet to respect copyright:-

However, in Questor’s view, Bluefield Solar offers relatively attractive long-term income prospects as part of a diverse portfolio. Its high-yield and relatively stable dividend prospects could prove to be useful allies if inflation rises and interest rates remain low.

Its plans to diversify into other forms of renewable energy assets could reduce risk and improve long-term returns. Furthermore, the rising popularity of ESG-related investments may support, and even extend, its current premium to Nav.

Questor says: buy