Bluefield Solar Income (BSIF) has sold half of a 112-megawatt portfolio of nine assets to GLIL Infrastructure in the second phase of its partnership with the group of pension funds.
The sale, in line with BSIF’s 31 March valuation, enables the £795m investment company to raise cash to repay some of its £184m overdraft and invest in its development pipeline of new projects.
The 8%-yielder also has long-term debt of £423m, bringing total borrowings to £607m, or 43% of gross asset value.