Bluefield Solar has acquired a 46.4MW operational solar portfolio from Fengate Asset Management, a leading North American firm specialising in real assets. The portfolio comprises the 39.3MW Raventhorpe plant in Scunthorpe, Lincolnshire and 7.1 MW Roanhead in Barrow-in-Furness, Cumbria.

The enterprise value of the portfolio is £56.0 million, including the economic benefit of all cashflows from May 2022. The portfolio contains £27.3 million of long-term amortising debt provided by Macquarie.

Both solar sites are accredited under the Renewable Obligation Certificate (‘ROC’) regime with a tariff of 1.4 ROCs.
Following the acquisition, the Company’s total outstanding debt has increased to £537 million and its installed capacity is 813MW.