Bluefield Solar Income Share Discussion Threads

[janeann] 25/3/2024 21:38

My email from ajbell still not retracted.......and i messaged them today and still waiting to have a reply

[fordtin] 25/3/2024 20:53

Received a reply from Bluefield this evening. They acknowledged AJ Bell sent some emails in error and they will be retracted.

[mikealig] 25/3/2024 19:04

My apology from AJ Bell said it should have applied to another of my holdings AA4 Amedeo Air Four Plus. Not sure what they're playing at but it appears they've done some damage here. Good to see directors showing some support.

[gateside] 25/3/2024 18:46

Worth topping up at sub 100p

[gateside] 25/3/2024 18:46

My wife holds BSIF in her Sipp with AJ Bell, and she got the emails that others got. I hold BSIF in my Interactive Investor ISA and there was nothing from them. Suggests that AJ Bell have made a real mess of their communication

[melody9999] 25/3/2024 17:29

I've had the letter saying this:

First, an apology. We sent you an email this weekend telling you that an investment you hold had failed a fair value assessment. Unfortunately, due to a system error, the email named an incorrect investment.

We’re very sorry for this mistake, and for the confusion it caused. The investment you hold that failed a fair value assessment is: CORDIANT DIGITAL INFRASTRUCTURE LTD.

This fair value assessment was carried out by the manager of the investment itself, and may mean the investment doesn’t offer you good enough value over the long term.

I think AJBell are talking garbage with respect to both companies anmd will be contacting them to seek an explanation. If someone gets there before me, pls share.

[gateside] 25/3/2024 15:45

Well it's hurt the share price today. Back to under 100p

[mikealig] 25/3/2024 15:01

Now had an email from AJ Bell stating that the previous email was sent in error. What a shambles!

[fordtin] 25/3/2024 10:23

As for AJBell's "Recently, this investment failed a fair value assessment, carried out by the manager of the investment itself."

Perhaps you should ask AJBell for a copy of this alledged assessment.

If the manager of BSIF really has made such a value assessment of BSIF and determined BSIF to have failed that assessment, why wasn't it issued via RNS?

[fordtin] 25/3/2024 10:14

I agree with tournesol.
I had a look at the bot site and it doesn't seem to include any consideration for events such as share issues to fund acquisitions, development projects etc.

That type of simplistic calculation is a total waste of time for companies like BSIF imo.

[tournesol] 25/3/2024 10:07

It's an automated robotic system which creates output without the involvement of human beings (other than developing the robot).

There are lots of these things around and they are bit like the proverbial million monkeys using typewriters.

When they identify stocks that fit into the normal distribution they don't make any comment. When they identify outliers they do. Most of the time what they say is wrong. There are usually reasons for anomalies and these systems are unable to consider those reasons.

I never pay any attention to them.

[ricky47] 25/3/2024 09:39

Sorry fordtin the missing "g" was me attempting to copy the website
hxxps://valueinvesting.io/BSIF.L/valuation/fair-value
That's nothing to do with AJBell

[fordtin] 25/3/2024 08:35

Are you sure they're not scam letters?

"from VALUEINVESTIN.IO:" The lack of a G makes it look suspiciously like a phishing email.

[masurenguy] 25/3/2024 08:26

The inconsisent and rather strange converse A.J. Bell & ValueInvestin emails referenced above stand in stark contrast to the CEO's comment circa 4 weeks ago !

"It has been disappointing to note the Company's share price discount to NAV widen, at times exceeding 25%. Meanwhile ample transactional evidence adds further weight to the credibility of the Company's valuation, which is in stark contrast to the share price. We remain entirely confident that Bluefield Solar is well placed to perform the task it has executed so well for over a decade, playing a significant role in the continuing development programme that is so clearly required to expand the UK's supplies of indigenously produced green electricity, while creating compelling growth and income for shareholders, with a total return of 110.14% since IPO." John Scott, CEO, 28th February 2024

[mikealig] 25/3/2024 06:19

I had the same email from AJ Bell. Never had anything like this from them before. I agree it's all just noise but still unwelcome.

[melody9999] 24/3/2024 23:34

All noise. I'd just focus on the last reported NAV at 135.95 at 311223. share price at 25% discount

[ricky47] 24/3/2024 01:35

Got an email today from AJBell saying:

"We’ve got an important update for you about an investment you hold – BLUEFIELD SOLAR INCOME FUND LTD.
Recently, this investment failed a fair value assessment, carried out by the manager of the investment itself. This means the investment may not offer you good enough value over the long term."

Also released today from VALUEINVESTIN.IO:
"As of 2024-03-24, the Fair Value of Bluefield Solar Income Fund Ltd (BSIF.L) is 53.71 GBP. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 101.8 GBP, the upside of Bluefield Solar Income Fund Ltd is -47.2%."

Only a week ago they said:
"As of 2024-03-16, the Fair Value of Bluefield Solar Income Fund Ltd (BSIF. L) is 195.5 GBP. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 102 GBP, the upside of Bluefield Solar Income Fund Ltd is 91.7%."
What's happened to cause this? Anyone able to shed any light?

[ron manager] 05/3/2024 15:48

Interview on IGTV

[masurenguy] 02/3/2024 13:53

Bluefield Solar targets share discount with £20m buyback round

Bluefield Solar Income Fund has allocated £20m to a share buyback programme to narrow the discount between the share price and its asset value. Chair John Scott also bemoaned the lacklustre performance of the group’s shares. “No matter how brightly the sun shines nor however hard the wind blows, our share price is becalmed at levels which are significantly below net asset value,” he stated.

As of 31 December, the discount to NAV was 14%, while it widened to as much as 25% throughout the period. Though this has little tangible effect on dividends, Scott said it “constrains our ability to raise the new equity capital needed to fund our further development… It also acts to the detriment of shareholders who wish to exit and who have been facing a discount of more than 25% to the underlying value of their investment”. Bluefield Solar’s share price discount suggests a “serious disconnect” between “how the company is valued by public markets and the prices being paid by institutional investors for portfolios of solar PV and wind assets”, he added.

The trust reported a net asset value (NAV) of £831.3m as of December 31, slightly down from £854.2m on June 30, 2023. Underlying earnings saw a 14.5% decrease to £43.9m. The dividend target for the fiscal year has been set at no less than 8.8p per share at two-times cover, up from 8.6p in the previous fiscal year. Operational milestones during the period included the signing of a Memorandum of Understanding (MOU) with GLIL Infrastructure, it said, marking a strategic partnership poised to fortify Bluefield Solar's investment and operational capabilities. Planning consents were also received for 137MW of solar projects and 90MW of battery projects, with the pipeline expanding to approximately 968MW of solar and 563MW of battery storage​.

[nerja] 28/2/2024 10:23

Very interesting, looking to top up in all three I have bought back into , just want to see more traction first after the way the whole sector has been battered.

[melody9999] 28/2/2024 10:13

Hi Nerja -

I used to work in the sector on the opertional side - getting connections through the DNO's was always time consuming - but BSIF will be on top of that.

There is quite a lot in the results - I copied these that may be of interest:

Although spot power prices have softened recently, BSIF was the beneficiary of our Investment Adviser's strategy of fixing prices up to 36 months in advance, with the result that, despite irradiation levels some 13% below those experienced in the second half of calendar 2022, our revenues for the Period grew as compared with the previous year.

Our ability to convert this pipeline into electricity generating assets is significantly restricted by current conditions in the capital markets, which make it difficult for us - and most participants in the renewable energy sector - to raise additional equity. In response to this constraint, the Company has entered into a Strategic Partnership with GLIL Infrastructure ("GLIL"), covered in more detail below.

There is ample transactional evidence of asset values consistent with our latest Directors' Valuation of nearly 136pps, so to see the Company's shares trading at close to £1 per share suggests a serious disconnect between how BSIF is valued by public markets and the prices being paid by institutional investors for portfolios of solar PV and wind assets.

[nerja] 28/2/2024 09:30

Thanks melody9999, didn’t explain myself well there, back in these Fsfl and Gsf just recently. Wondering what the more knowledgable than myself think the price of the power, the connection issues to grid etc over the sector are they at bottom or near too at least, is the main issue now gearing with them or what, TIA

[masurenguy] 28/2/2024 09:19

Current shareprice is circa 23% below NAV with a yield of 8.4% !