GLIL Infrastructure has expanded its investment in UK solar energy assets through a strengthened partnership with Bluefield Solar Income Fund. This collaboration marks a significant boost for the solar energy market, focusing on energy storage and green energy policies.
New Capital Injection for Solar Energy
GLIL Infrastructure, backed by UK local government pension schemes, is investing an additional £141 million into solar energy assets. This investment forms the second phase of their partnership with Bluefield Solar, established in December last year. GLIL is acquiring half of a 112 MW portfolio from Bluefield Solar, which includes nine operational solar sites located in southern and central England.
Funding New Solar Technology Developments
The second phase of this partnership involves GLIL funding the construction of 17 MW of new solar assets. These assets are expected to be grid-connected within the next 12 months, highlighting the rapid pace of solar technology developments. This investment aims to enhance energy storage and efficiency, contributing to the overall growth of the solar energy market.
Strategic Relationship and Future Prospects
Julia Carter, Deputy Portfolio Manager at GLIL Infrastructure, emphasized the importance of this acquisition. “This acquisition represents the continuation of our strong strategic relationship with the team at Bluefield Solar. It also reflects our commitment to helping drive the energy transition on behalf of our members,” she stated. Carter noted that these assets add value to GLIL’s growing green energy portfolio and support the UK’s infrastructure projects.
Strengthening Financial Position and Future Projects
John Scott, Chairman of Bluefield Solar, expressed his satisfaction with the transaction. “We are delighted to announce a landmark transaction for the sector. This second phase of our strategic partnership with GLIL provides significant capital for Bluefield Solar and validates our net asset value,” Scott said. The cash proceeds of £70 million will be used to reduce Bluefield Solar’s leverage and commit further capital to its development pipeline.
Scott added, “The new projects in development provide an exciting opportunity for significant value accretion for shareholders. They also expand the UK’s solar resources, helping achieve our national climate goals.”
Conclusion
This investment by GLIL Infrastructure and Bluefield Solar marks a significant milestone in the solar energy market. By focusing on solar energy investments and leveraging advanced solar technology, this partnership aims to drive energy market trends and support the UK’s transition to green energy.
Source：realassets.ipe.com
