The London-listed Bluefield Solar Income Fund (BSIF) has executed the second phase of a strategic partnership with GLIL Infrastructure through the sale of a 50 percent stake in a 112-megawatt portfolio of solar assets.
GLIL is a partnership of U.K. pension funds investing into core U.K. infrastructure, which includes Local Pensions Partnership Investments, Greater Manchester Pension Fund, Merseyside Pension Fund, West Yorkshire Pension Fund and Nest. GLIL’s latest acquisition is part of a £70 million ($90 million) strategic partnership investment with BSIF.
The 112-megawatt BSIF portfolio is diversified across southern and central England and consists of nine operating sites, all backed by renewable obligation certificates. Proceeds from the sale will be used to repay a portion of BSIF’s revolving credit facility, as well as provide funding for construction of approximately 17 megawatts of development assets as the initial commencement of phase three of the strate
