Investment Trusts

Bluefield Solar Income Fund Limited

BSIF:LSE

Bluefield Solar Income Fund Limited

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  • Price (GBX)140.95
  • Today's Change-0.550 / -0.39%
  • Shares traded426.75k
  • 1 Year change+14.59%
  • Beta0.2114
Data delayed at least 20 minutes, as of Feb 08 2023 11:51 GMT.
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About the company

Bluefield Solar Income Fund Limited is a Guernsey-based closed-ended investment company. The Company is focused on the acquisition and long-term management of a diversified portfolio of low carbon assets in the United Kingdom. The investment objective of the Company is to provide shareholders with an attractive return, principally in the form of regular income distributions, by investing in solar energy assets located in the United Kingdom. It primarily targets utility-scale solar assets and portfolios on greenfield, industrial and/or commercial sites. The Company has invested in a diverse group of solar photovoltaic assets across the United Kingdom. It also invests a minority of its capital into wind, hydro, and energy storage assets. There are over 100 assets under operation, such as large agriculturally situated solar farms, with a small number (by energy capacity) of industrial and commercial sites. The Company's investment adviser is Bluefield Partners LLP.

  • Revenue in GBP (TTM)834.00k
  • Net income in GBP174.57m
  • Incorporated2013
  • Employees0.00
  • Location
    Bluefield Solar Income Fund LimitedFloor 2, Trafalgar Court, Les BanquesSAINT PETER PORT GY1 4LYGuernseyGGY
  • Phone+44 1 481716000
  • Websitehttp://www.bluefieldsif.com/
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Profile

Management group(s)Bluefield Partners LLP
AIC sectorRenewable Energy Infrastructure
ISINGG00BB0RDB98
Launch date12 Jul 2013
Share typeOrdinary Share
StructureInvestment Trust
Base currencyGBP

Objective

The investment objective of the Company is to provide Shareholders with an attractive return, principally in the form of regular income distributions, by being invested primarily in solar energy assets located in the UK. The Company also invests a minority of its capital into other renewables assets including wind and energy storage.

Managed by

James Armstrong, Giovanni Terranova, Neil Wood, Michael Covington

Management & contract fees

An annual base fee of: 1) 0.80% of NAV up to and including GBP 750m; 2) 0.75% of NAV above GBP 750m up to and including GBP 1bn; and 3) 0.65% of NAV above GBP 1bn. The base fee will be payable quarterly in arrears in cash.

Mergers & acquisitions

Acquired companyDeal statusDateDate /
Deal status
BSIF:LSE since
announced
Transaction
value
Fengate Capital Management Ltd-46.4 Mwp Solar PortfolioDeal completed23 Dec 202223 Dec 2022Deal completed3.64%67.44m
Undisclosed 93.2 Mwp Solar & Wind PortfolioDeal completed11 May 202211 May 2022Deal completed2.14%138.50m
Data delayed at least 20 minutes, as of Feb 08 2023 11:51 GMT.

Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
VinaCapital Vietnam Opportunity Fund Ltd-90.55m-100.85m758.36m0.00--0.7832-----0.6196-0.6196-0.54665.99-0.0822-------9.169.43-9.319.62--79.63--75.97---16.410.0024.48-117.48---122.46----27.23
European Opportunities Trust PLC39.16m27.52m780.12m0.0031.550.9052--19.920.24410.24410.37438.510.041--10.48--2.883.553.143.8476.0874.3070.2969.87----0.0013.01169.67-27.47522.13-31.85---17.40
JLEN Environmental Assets Group Ltd192.89m185.01m787.22m0.003.931.03--4.080.30260.30260.31921.150.3035------29.1110.2329.2010.2796.5090.5195.9188.94----0.0062.311,207.4645.292,182.9148.52--2.06
Oakley Capital Investments Limited252.49m248.73m808.00m0.003.300.8508--3.201.391.391.405.380.2988--3,236.99--29.4318.5129.4518.9132.68--98.5193.45----0.007.98152.4728.79169.2330.12--0.00
ICG Enterprise Trust PLC268.75m248.60m810.22m0.003.170.6405--3.013.743.744.0418.520.2275--116.16--21.0515.8021.5015.8394.2993.0292.5090.54----0.029910.9228.8015.6229.3715.76--6.19
Merchants Trust plc87.68m79.62m830.55m0.009.341.05--9.470.63410.63410.68195.650.1108------10.067.3010.237.5192.8383.2990.8181.67----0.080560.25406.8317.20366.7520.01--2.44
Global Smaller Companies Trust PLC-1.60m-9.26m846.17m0.00--0.9254-----0.0189-0.0189-0.00281.72-0.0016-------0.89786.85-0.91587.03--91.70--89.47----0.054815.56-100.48---102.82----8.48
Schroder AsiaPacific Fund plc-132.98m-142.18m863.67m0.00--0.9979-----0.8722-0.8722-0.81415.46-0.1339-------14.314.03-14.614.14--84.76--77.22----0.000143.39-186.57---203.80----16.47
Bluefield Solar Income Fund Ltd834.00k174.57m865.20m0.004.101.01--1,037.420.34550.34550.00171.400.0013--29.79--26.2412.8226.2612.8314.993.6620,932.018,227.37----0.0045.5612.707.59612.0522.21--22.32
GCP Infrastructure Investments Limited157.49m140.32m867.10m0.006.170.8688--5.510.15890.15890.17831.130.1427--1,046.41--12.716.1412.756.1694.5789.3489.1081.02--30.750.089496.70104.7322.60125.0324.64---1.63
Gresham House Energy Storage Fund PLC192.59m185.95m882.30m0.003.941.12--4.580.41340.41340.43391.450.3288--832.43--31.75--31.83--97.41--96.55------0.00--267.54--330.16------
Apax Global Alpha Ltd86.16m74.51m885.43m0.0011.880.7142--10.280.15170.15170.17542.520.0683--63.68--5.9114.776.0314.93----86.4891.76----0.001534.09114.2338.01112.9341.43--9.13
The Scottish American Investment Co PLC-2.71m-14.86m899.66m0.00--1.08-----0.0795-0.0795-0.01554.72-0.0029-------1.5811.80-1.6612.00--90.55--87.92----0.102222.0075.889.7884.3710.15--3.21
Fidelity Special Values PLC-35.55m-43.43m926.92m0.00--1.00-----0.1377-0.1377-0.11112.85-0.0375-------4.594.58-4.634.64--86.19--82.06----0.0055.31-110.59---113.20----11.00
Bellevue Healthcare Trust PLC-141.15m-153.96m933.90m0.00--1.13-----0.2647-0.2647-0.25131.50-0.1402-------15.29---16.60-------------130.250.1188---40.65---44.77------
Allianz Technology Trust PLC-287.16m-296.81m942.78m0.00--0.9689-----0.7099-0.7099-0.67952.42-0.2458-------25.4127.90-25.4428.32--94.60--94.03----0.000.00-52.4141.60-51.3141.83----
Data as of Feb 08 2023. Currency figures normalised to Bluefield Solar Income Fund Limited's reporting currency: UK Pound GBX

Institutional shareholders

58.58%Per cent of shares held by top holders
HolderShares% Held
BlackRock Investment Management (UK) Ltd.as of 31 Dec 202297.53m19.97%
Valu-Trac Investment Management Ltd.as of 30 Nov 202247.44m9.71%
Abrdn Capital Ltd.as of 22 Jul 202140.90m8.37%
Newton Investment Management Ltd.as of 30 Jun 202128.20m5.77%
CCLA Investment Management Ltd.as of 23 Jul 202121.21m4.34%
Courtiers Investment Services Ltd.as of 30 Dec 202215.15m3.10%
Privium Fund Management BVas of 30 Nov 202112.04m2.47%
West Yorkshire Pension Fundas of 31 Mar 20228.87m1.82%
Janus Henderson Investors UK Ltd.as of 31 Dec 20227.91m1.62%
Vanguard Global Advisers LLCas of 31 Dec 20226.86m1.40%
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Data from 31 Mar 2022 - 31 Dec 2022Source: FactSet Research Systems Inc.
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