Bluefield Solar Income Fund Limited
('Bluefield Solar' or the 'Company')
GUERNSEY GREEN FUND STATUS
Bluefield Solar (LON: BSIF), a sterling income fund that invests in UK-based solar assets, is pleased to announce that it has been successful in obtaining Guernsey Green Fund Status.
The Guernsey Green Fund aims to provide a platform upon which investments into various green initiatives can be made and gives investors a trusted and transparent product that contributes to the internationally agreed objectives of mitigating environmental damage and climate change.
Following an application to the Guernsey Financial Services Commission ('GFSC'), via the Route 1 suitable third party certification route, Bluefield Solar is deemed to have met the following investment criteria as outlined in the Guernsey Green Fund Rules, 2018 ('The Rules'):
· The Property of a Guernsey Green Fund shall be invested with the aim of spreading risk and with the ultimate objective of mitigating environmental damage resulting in a net positive outcome for the environment;
· A Guernsey Green Fund shall comprise 75% assets by value that meet the Guernsey Green Fund Rules criteria. The remaining 25% must not lessen or reduce the Guernsey Green Fund's overall objective of mitigating environmental damage nor comprise an investment of a type specified within schedule 3 of The Rules;
· A Guernsey Green Fund shall only comprise assets permitted to be held under its principal documents or prospectus and of a nature described in its prospectus; and
· A Guernsey Green Fund shall not be invested in contravention of limits or restrictions imposed under its principal documents or prospectus.
The Route 1 suitable third party certification was provided by KPMG Channel Islands Limited
in the form of an independent limited assurance report and their engagement was conducted in accordance with the International Standard on Assurance Engagements (ISAE) 3000, Assurance Engagements other than Audits or Reviews of Historical Financial Information issued by the International Auditing and Assurance Standards Board.
In fulfilling the above investment criteria, Bluefield Solar invests in a diversified portfolio of solar energy assets, each located within the UK, with a focus on utility scale assets and portfolios on greenfield sites. The Group targets long life solar energy infrastructure, expected to generate stable renewable energy output over a 25 year asset life. Bluefield Solar incorporates Environmental Social & Governance policies into its investment processes and is conscious of its environmental and social impact. The production of renewable energy equates to a significant amount of CO2 emissions saved, representing a sustainable and ethical investment.
Further information on the Guernsey Green Fund initiative can be found at:
https://www.weareguernsey.com/finance-industry/thematics/green-finance/
or The Rules can be found at:
https://www.gfsc.gg/industry-sectors/investment/guernsey-green-fund
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For further information:
Bluefield Partners LLP (Company Investment Adviser)
James Armstrong / Mike Rand / Giovanni Terranova |
Tel: +44 (0) 20 7078 0020
www.bluefieldllp.com |
Numis Securities Limited (Company Broker)
Tod Davis / David Benda |
Tel: +44 (0) 20 7260 1000
www.numis.com |
Estera International Fund Managers (Guernsey) Limited
(Company Secretary & Administrator)
Kevin Smith |
Tel: +44 (0) 1481 742 742
www.estera.com |
Media enquiries:
Buchanan (PR Adviser)
Henry Harrison-Topham / Henry Wilson / Victoria Hayns |
Tel: +44 (0) 20 7466 5000
www.buchanan.uk.com
[email protected] |
Notes to Editors
About Bluefield Solar
Bluefield Solar is a sterling income fund focused on acquiring and managing UK-based solar projects to generate renewable energy for periods of typically 25 years or longer. The Company's primary objective is to deliver to its shareholders stable, long term sterling income via quarterly dividends, which are linked to RPI. The majority of the Group's revenue streams are regulated and non-correlated to traditional markets. Bluefield Solar owns and operates one of the UK's largest, diversified portfolios of solar assets with a combined installed power capacity in excess of 465 Megawatt peak (MWp). Further information can be viewed at www.bluefieldsif.com
About Bluefield Partners LLP ('Bluefield')
Bluefield was established in 2009 and is an investment adviser to companies and funds investing in solar energy infrastructure. It has a proven record in the selection, acquisition and supervision of large-scale energy and infrastructure assets in the UK and Europe. The team has been involved in over £1.5 billion of solar PV funds and/or transactions in both the UK and Europe since 2008, including over £800 million in the UK since December 2011.
Bluefield has led the acquisitions of, and currently advises on, over 85 UK based solar PV assets that are agriculturally, commercially or industrially situated. Based in its London office, Bluefield's partners are supported by a dedicated and highly experienced team of investment, legal and portfolio executives. Bluefield was appointed Investment Adviser to the Company in June 2013.
