Bluefield swoops for 19MW UK PV

London-based Bluefield Solar Income Fund (BSIF) has signed a £21m ($35.1m) conditional deal to buy a 19MW PV plant near Swindon, southwest England.

The plant, which will be the fund’s ninth large-scale UK solar acquisition, is expected to be grid-connected next month in order to qualify for 1.6 Renewable Obligation Certificates (ROCs) under the nation’s support system

Bluefield says it had capital of around £14m available before the deal for further investments.

The 19MW deal is conditional on a proposed £13m placing of new shares raising a minimum of £8m, the fund says.  It plans to use the additional £5m raised  to “access additional investment opportunities”.

Conergy-owned Wirsol Solar UK is building the facility and will provide ongoing operation and maintenance.